Question

The Czech Republic has a GDP of 2,000 billion koruny. The exchange rate is 20 koruny per U.S. dollar. The Czech population is 20 million. Calculate the per capita GDP of the Czech Republic in U.S. dollars.

Answer 1

Answer:

$5,000

Explanation:

For calculating per capita GDP in US Dollars for Czech Republic, first we will convert the the Koruny  to USD as follows

Czech Republic GDP in USD=2,000 billion/20=100 Billion USD

Now we will calculate the Per Capita GDP of Czech Republic as follows:

Per Capita GDP of Czech Republic=GDP in USD/Population

                                                         =100,000,000,000/20,000,000

                                                         =$5,000