Question

Consider the data to answer the following questions: Country GDP Population A $32,000 1,500 B $20,000 1,000 C $10,000 500 D $10,000 2,000 E $8,000 800 If these are the only five countries in the world, then country B produces ________ of world gross domestic product (GDP). a. 30 percent b. 50 percent c. 62.5 percent d. 20 percent e. 25 percent

Answer 1

Answer:

Country B produces 25% of world GDP and option e is the correct answer.

Explanation:

We first need to calculate the total world GDP which is the sum of all the individual countries GDP.

The total world GDP = 32000 + 20000 + 10000 + 10000 + 8000

The total world GDP = $80000

Company B produces a GDP of $20000.

Out of the total world GDP, country B produces a GDP of = 20000 / 80000 = 0.25 or 25%

Thus, country B produced 25% of the total world GDP of $80000.