Which of the following statements accurately describe the process of calculating real GDP per capita? Select all that apply.

Calculating real GDP per capita involves two main steps: first, we need to determine the real GDP, which is the total value of all goods and services produced in a country, adjusted for inflation. This means we are looking at the actual purchasing power of money over time rather than just the dollar amount. Next, we divide this real GDP by the total population of the country to find out how much, on average, each person would have if the country's wealth were shared equally. For example, if a country has a real GDP of $1 trillion and a population of 250 million, the real GDP per capita would be $4,000, which helps us understand the average standard of living. This calculation is important because it gives a clearer picture of economic health and individual prosperity in a country.