real gdp in a small country is worth $8 billion. the population of the country is 200,000. what is per capita real gdp?

$60,000
$40,000
$30,000
$300,000

Question

real gdp in a small country is worth $8 billion. the population of the country is 200,000. what is per capita real gdp?

$60,000
$40,000
$30,000
$300,000

Accepted Answer

{ "quality": "clear", "question_count": 1, "skills_matched": [ "step_cot", "multiple_choice_formatter", "explain_then_answer", "quick" ], "needs_drawing": false, "concepts_used": [], "new_concepts": [ "Per Capita Real GDP" ], "current_concepts": [ "Per Capita Real GDP", "Real GDP" ] } ## Identify the given values $$ \begin{aligned} \text{Real GDP} &= \$8\text{ billion} = \$8,000,000,000 \ \text{Population} &= 200,000 \end{aligned} $$ ## Calculate per capita Real GDP $$ \begin{aligned} \text{Per Capita Real GDP} &= \frac{\text{Real GDP}}{\text{Population}} \ &= \frac{\$8,000,000,000}{200,000} \ &= \frac{\$8,000}{0.2} \ &= \$40,000 \end{aligned} $$

(A) $60,000

(B) $40,000

(C) $30,000

(D) $300,000

{ "subject": "Business", "question_type": "Multiple Choice", "knowledge_point": [ "Business", "Macroeconomics", "Per Capita Real GDP" ] }

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Question

Explanation:

Identify the given values

Calculate per capita Real GDP

Answer: