What does Per Capita Income represent?

The total wealth of a nation The average income of a person in a specific area The income of the wealthiest individuals in a region The minimum wage level in a country

How is Per Capita Income calculated?

By dividing the number of employed individuals by the total income By multiplying the total income by the population size By dividing the total income of an area by its total population By subtracting government spending from the total income

What is Per Capita Income used for?

To determine the exact income of each individual in a region To assess the overall economic performance of a company To measure the distribution of wealth within a population To evaluate the standard of living and well-being of a population

Why is it important to consider unemployed individuals when calculating Per Capita Income?

To accurately reflect the average income of the entire population To inflate the Per Capita Income and make the economy appear stronger To exclude individuals who do not contribute to the national income To simplify the calculation and reduce the number of variables