This short topic video looks at the difference between GDP and GDP per capitaFor more help with your A Level IB Economics visit tutor2u Economicshttpw. In 2016 the population in the EU was 510 million. Steps to Calculate Real GDP Per Capita The calculation of real GDP per capita will be done by using the below steps.
Define the annual growth rate g of Y in any year t as the annual percentage change in Y from the previous year.
GDP is typically figured for periods such as one year or one quarter. Determine how many people are in the population that you want to measure. Define the annual growth rate g of Y in any year t as the annual percentage change in Y from the previous year. For example the US GDP per Capita is around 20 trillion in gross domestic product 2018 for a population of more than 300 million people.