The average household level of production declined last year is referred as per capita GDP.
What is GDP?
The GDP (Gross Domestic Product) is a macroeconomic indicator that measures, in monetary terms, the total amount of goods and services produced within an economy during a certain period of time, typically one year. The GDP per capita is computed by diving the GDP figure between the total population in that economy. Therefore, it refers to the total amount of production per individual (or per household).
Therefore, (D) option is the correct answer.
To learn more about GDP, refer here :
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