Define Real GDP Per Capita. What do you think this means? Question 2: Give an example of each of the following in terms

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Question 1: Define Real GDP Per Capita. What do you think this means?

Question 2: Give an example of each of the following in terms of Real GDP Per Capita: a Less Developed Country (LDC), a Newly Industrialized Country (NIC), and a Developed Country.

Question 3: Discus and analyze whether the skill set of the country’s Labor impacts what the country will be able to produce and explain why you believe this will be the outcome referencing the institutions (Technology) available in the country. You may want to visit the CIA World Factbook and begin by researching your countries according to the map found on page 572.