Question

1 of 5
a country has a population of 20,000 people and a gdp of 50 million dollars. what is the per capita gdp of the country? (1 point)
2,500 dollars
2.5 million dollars
100 million dollars
250 dollars

Explanation:

Step1: Recall the formula for per capita GDP

Per capita GDP is calculated by dividing the total GDP by the total population. The formula is:
$$\text{Per Capita GDP} = \frac{\text{Total GDP}}{\text{Total Population}}$$

Step2: Substitute the given values

Total GDP = 50 million dollars = \( 50,000,000 \) dollars
Total Population = 20,000 people

Substitute into the formula:
$$\text{Per Capita GDP} = \frac{50,000,000}{20,000}$$

Step3: Perform the division

Simplify the division:
\( \frac{50,000,000}{20,000} = \frac{50,000,000 \div 10,000}{20,000 \div 10,000} = \frac{5,000}{2} = 2,500 \) dollars

Answer:

2,500 dollars