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Gross Domestic Product per capita

GDP divided by the population of an economy. It is a useful way of measuring economic progress i.e. GDP growth may not be perceived as successful if GDP per capita has declined.

Below is a graph to show real GDP per capita changes over the past 30 years and as this is one of the main measures of the standard of living for a country, because this has been increasing over the past 30 years then living standards have been increasing as well.

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