GNI per capita is a measurement of the total income received by that country over the course of a year. Although the GNI per...
represent the standard of living is GNI per capita based onpurchasing power parity (PPP), a common metric used to reflect average income. The standard of living is normalized so that it is equal to one when the GNI per capita is $75,000 and equal to zero when the GNI per capita is ...
National income accounting is a bookkeeping system that a government uses to measure the level of the country's economic activity in a given time period.Accounting recordsof this nature include data regarding total revenues earned by domestic corporations, wages paid to foreign and domestic workers,...