If a country contributes 15% of its GDP to international aid and its GDP is $2 t

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Question: If a country contributes 15% of its GDP to international aid and its GDP is $2 trillion, how much does it contribute? (2019)

Options:

Correct Answer: $300 billion

Exam Year: 2019

Solution:

Contribution = 15% of $2 trillion = 0.15 * 2 trillion = $300 billion.

If a country contributes 15% of its GDP to international aid and its GDP is $2 trillion, how much does it contribute? (2019)

If a country contributes 15% of its GDP to international aid and its GDP is $2 trillion, how much does it contribute? (2019)

Step 1: Understand that the country contributes 15% of its GDP to international aid.
Step 2: Identify the GDP of the country, which is $2 trillion.
Step 3: Convert the percentage (15%) into a decimal for calculation. 15% as a decimal is 0.15.
Step 4: Multiply the GDP by the decimal to find the contribution: 0.15 * 2 trillion.
Step 5: Calculate the result: 0.15 * 2 trillion = 0.30 trillion.
Step 6: Convert trillion to billion for easier understanding: 0.30 trillion is the same as 300 billion.

Percentage Calculation – Understanding how to calculate a percentage of a given value.
GDP Understanding – Knowledge of what GDP represents and its relevance in economic contexts.