A tiny island country has a gross domestic product (GDP) of $25 million and a population of 500 citizens. What is its GDP per capita? ( 1 point )

Question

A.) $25 million

B.) $50,000

C.) $125 million

D.) $2,000

Answer 1

To calculate the GDP per capita, you need to divide the country's GDP by its population.

GDP per capita = GDP ÷ population

GDP per capita = $25 million ÷ 500 citizens

GDP per capita = $50,000

Therefore, the correct answer is B.) $50,000.