Madinsonia has a real gross domestic production (GDP) per capita of $\$ 10,000$.

Which of the following statements can we infer from this information?
Choose 1 answer:
(A) Every person has an income of at least $\$ 10,000$
(B) Every person has an income of exactly $\$ 10,000$
(C) Every person has an income of less than $\$ 10,000$
(D) The average income of a person is $\$ 10,000$, but this might not be the typical person's income
(E) Without knowing the size of the population, we cannot say what a typical person earns

Question

Madinsonia has a real gross domestic production (GDP) per capita of $\$ 10,000$.

Which of the following statements can we infer from this information?
Choose 1 answer:
(A) Every person has an income of at least $\$ 10,000$
(B) Every person has an income of exactly $\$ 10,000$
(C) Every person has an income of less than $\$ 10,000$
(D) The average income of a person is $\$ 10,000$, but this might not be the typical person's income
(E) Without knowing the size of the population, we cannot say what a typical person earns

Accepted Answer

***D*** ∻Key Concept∻ ⚹GDP per capita as an average measure⚹ ∻Explanation∻ ⚹GDP per capita is the average income and does not reflect the distribution of income among individuals in the economy. It is possible for the typical person to earn more or less than this average amount.⚹◊What are the factors that could influence the distribution of income within Madinsonia, despite having a GDP per capita of $10,000?⍭ Generate me a similar question◊$

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