GDP per capita means that GDP is calculated per:

• A. Firm
• B. Household
• C. Person (resident of the country)
• D. Dollar of exports

Answer: (C)

Verified step by step guidance

1. Understand that GDP per capita is a measure of the average economic output per person in a country.
2. Recall that GDP (Gross Domestic Product) represents the total value of all goods and services produced within a country in a given period.
3. Recognize that 'per capita' means 'per person,' so GDP per capita divides the total GDP by the total population of the country.
4. Formulate the calculation as: \(\text{GDP per capita} = \frac{\text{Total GDP}}{\text{Total Population}}\).
5. Conclude that GDP per capita is calculated per person (resident of the country), not per firm, household, or dollar of exports.