The trick is to find the right numbers to divide.

>>Pericles,when John Howard lost the last election we had a GDP of $1 trillion,divide that by our pop and the GDP per capita is $49,000.00 or almost $200,000.00 per family of 4.<<

Your sums are correct, Arjay, but what goes into the GDP calculation is not only the sum total of wages paid to Australians.

If it were, then wages would make up 100% of the cost of goods and services. Which of course they don't.

GDP includes the value that is added along the way to the end product, so will include all the other inputs - raw materials, cost of machinery, factory space etc. - that are required.

It's all quite fascinating, once you get into it.

Correct Pericles,but did you realise that inflation was compounding?

Sheesh Arjay, frankly I think its very decent of Pericles
not to send you a bill, for all that free economics advice!