Answer:
The approximate annual per capita spending for personal consumption is $30,145 person per year
Explanation:
The formula to compute the approximate annual per capita spending for personal consumption is shown below:
= Total amount which country has spent in a particular year ÷ Total population
Since the population amount is 310 million and the total amount spent is $10.4 trillion
So, we have to convert the million to trillion
So, the revised population would be
= 345 ÷ $1000,000 = 0.000345 trillion
Now put these values to the above formula
So, the answer would be equal to
= $10.4 trillion ÷ 0.000345 trillion
= $30,145 person per year
