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What is the relationship between GDP and wages?
GDP (Gross Domestic Product) measures the final result of a country's production activities in a certain period (usually one year) at market prices. Per capita GDP is the per capita level of a country's GDP compared with its permanent population. It is often used as an index to measure economic development in development economics, and it is an effective tool for people to understand and grasp the macroeconomic operation of a country or region and measure the living standards of people in this region.
The relationship between GDP and residents' income depends on the economic structure of this country. For example, in our country, the relationship is not very big, because most of China's GDP is piled up by various investments, and the proportion of household consumption is too low.
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