Question

A nation's real GDP was $250 billion in 2015 and $265 billion in 2016. Its population was 122 million in 2015 and 125 million in 2016. What is the growth rate of real GDP per capita in 2016?A. $205 per person
B. $212 per person
C. $2,120 per person
D. $21,200 per person

Answer 1

Answer:

The correct answer is option C.

Explanation:

The real GDP of a nation was $250 billion in 2015, its population was 122 million.

In 2016, its real GDP was $265 billion and its population was 125 million.

The real GDP per capita in the year 2016 is

= $\frac{Real\ GDP}{Total\ Population}$

= $\frac{\ 265\ billion}{\ 0.125\ billion}$

= $2,120

The GDP per capita in 2016 is $2,120.