Per Capita Personal Income
Per capita personal income is a measure of the average income of a person in a given area. It is calculated by dividing the total personal income of a given area by its population. This measure is used to compare the economic well-being of different areas and to compare the economic well-being of different countries. It is also used to measure the economic progress of a country over time.
History of Per Capita Personal Income
The concept of per capita personal income has been around since the early 19th century. It was first used by the British government to measure the economic progress of its colonies. Since then, it has been used by governments and economists around the world to measure the economic progress of countries and regions. It is also used by businesses to compare the economic well-being of different areas.
Comparison of Per Capita Personal Income
| Country | Per Capita Personal Income (USD) |
|---|---|
| United States | $59,532 |
| China | $10,220 |
| India | $2,170 |
Summary
Per capita personal income is a measure of the average income of a person in a given area. It is used to compare the economic well-being of different areas and to measure the economic progress of a country over time. It is also used by businesses to compare the economic well-being of different areas. For more information about per capita personal income, you can visit the websites of the World Bank, the International Monetary Fund, and the United Nations.
See Also
- Gross Domestic Product (GDP)
- Gross National Income (GNI)
- Gini Coefficient
- Purchasing Power Parity (PPP)
- Human Development Index (HDI)
- Income Inequality
- Consumer Price Index (CPI)
- Unemployment Rate
- Poverty Rate
- Average Wage
