A country's GDP is $2.5 trillion and its population is 250 million. What is the

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Question: A country\'s GDP is $2.5 trillion and its population is 250 million. What is the GDP per capita?

Options:

Correct Answer: $12,500

Solution:

GDP per capita = 2.5 trillion / 250 million = 10,000.

A country's GDP is $2.5 trillion and its population is 250 million. What is the GDP per capita?

A country's GDP is $2.5 trillion and its population is 250 million. What is the GDP per capita?

Step 1: Understand that GDP per capita means the average economic output per person in the country.
Step 2: Identify the total GDP, which is $2.5 trillion.
Step 3: Identify the total population, which is 250 million.
Step 4: Convert the GDP from trillion to million for easier calculation: $2.5 trillion = 2500 million.
Step 5: Divide the total GDP in million by the total population in million: 2500 million / 250 million.
Step 6: Calculate the result: 2500 / 250 = 10.
Step 7: Since we are working with millions, the final answer is $10,000.

GDP per capita – GDP per capita is a measure of a country's economic output that accounts for its number of people, calculated by dividing the GDP by the population.