What Is the Meaning of Per Capita Income?

Answer Understanding the statistics used to evaluate different countries on a level field is key to improved geopolitical awareness. Economists need tools to evaluate distinct regions and countries that a... Read More »

Top Q&A For: What Is the Meaning of Per Capita Income

Why Is Per Capita Income Important?

Two or more regions can compare income just as two individuals can compare income to determine who is more financially stable. The way economists compare regional income is through per capita figur... Read More »

What is the meaning of earned income credit for taxes?

The federal government introduced the Earned Income Tax Credit (EITC) during the mid-1970s. Since then, it has become one of the most popular pieces of tax code and essential for many low-income fa... Read More »

Stratification of High Income, Middle Income and Low Income Nations?

The World Bank uses a system of classification of all countries' economies by income for analytical purposes. The main classification criteria is gross national income (GNI) per capita, with every ... Read More »

What does"per capita"mean?

Per capita is a Latin term that means "by head." It is commonly used to convey the income level in a specific country or area. For example, an area with a total income of $500,000 and 100 residents... Read More »