Q. Which among the following is/ are correct about GDP per capita?

1. It’s a measurement of the standard of living in an economy
2. It’s a measure of personal income of the citizens
3. Its just an indicator about the health of the country’s economy

Answer: 3 only
Notes: The correct answer is "4" (none of the statements are entirely correct). 1. GDP per capita is often used as an indicator of the standard of living, but it does not account for income distribution, so it may not accurately reflect individual well-being. 2. It is not a direct measure of personal income, as it averages the total economic output over the population, which can obscure disparities. 3. While it indicates economic health, it does not capture other factors like environmental quality or social well-being. Trivia: Countries like Luxembourg have high GDP per capita but also important income inequality.