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The gross domestic product (GDP) per capita is a widely used measure of a country's (or state's) economy. It is dened as the total market
The gross domestic product (GDP) per capita is a widely used measure of a country's (or state's) economy. It is dened as the total market value of all goods and services produced within a country (or state) in a specied period of time. The most common computation of GDP includes ve items: consumption, gross investment, government spending, exports, and imports (which negatively impact the total}. The Census Bureau reports the GDP for each state in the Unites States quarterly. The government also reports annual personal income totals (seasonally adjusted in $millions) by state and each state's population. Let's examine how personal income is related to GDP at the state level. You can nd the data le on Blackboard. Download it to a folder and then set working directory to that folder by Session > Set Working Directory > Choose Directory. Then, use the following to read the data GDP
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