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A comment on Look at median, and not mean GDP per capita. Parent comment

Re:Look at median, and not mean GDP per capita by missedthecue on Sunday August 07, 2022 @07:33PM (#32380965)
But the velocity of money doesn't change that. $1 spent is $1 of income no matter how or where it's spent.

Every transaction necessarily has a buyer and a seller

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Re:Look at median, and not mean GDP per capita by tremon on Monday August 08, 2022 @10:04AM (#32385514)
The same dollar changing hands every day for a week contributes $7 to the national GDP.

A dollar changing hands only once contributes $1 to the national GDP.

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Re:Look at median, and not mean GDP per capita by adam_arthur on Sunday August 07, 2022 @07:37PM (#32380987)
Income has nothing to do with GDP. Maybe do some research before littering the comments with uneducated takes.

And real income/GDP is what matters more in the end anyway. E.g. nominal wage increases aren't beneficial to people if their spending power is in decline

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Re:Look at median, and not mean GDP per capita by missedthecue on Sunday August 07, 2022 @07:45PM (#32381034)
Are you confusing the economic term "income" with wages?
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Re:Look at median, and not mean GDP per capita by adam_arthur on Sunday August 07, 2022 @07:53PM (#32381088)
We're taking about the colloquial definition of income as per the author's mistake with wages.

And yes even income of producers is not GDP, because you have to factor in imports/exports

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