The term "per capita" is a Latin phrase that means "per person." In economic contexts, it refers to a measure that represents an average or mean in relation to the total population.
In the case of the report stating that Francis's per capita income was $37,400 in 2019, it means that, on average, each person in Francis earned $37,400 that year. This figure provides a way to understand the income level of individual citizens in relation to the overall income of the population.
So, the definition that best describes "per capita" is:
A measure that represents the average per person in a specific population.