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An increase in a country's capital stock will result in a rise in aggregate production and income per capita for a given population and a given quantity of labor employed.
What is Per Capita Income?
Per capita income is the amount of money that each person makes within a nation or geographic region. In order to calculate the average income per person in a region and to assess the population's level of living and quality of life, per capita income is used. The per capita income of a country is derived by dividing the national income by the population of the country.
Every person, including newborns, is included in the population when calculating per capita income. This contrasts with other popular measures of an area's prosperity like household income, which classifies all individuals living in a single home as a household, and family income, which classifies individuals living in a single home who are related to one another through birth, marriage, or adoption as a family.
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