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

Question

a $2,000
b $25 million
c $125 million
d $50,000

Answer 1

To calculate the GDP per capita, you divide the GDP by the population.

In this case:

\[ \text{GDP per capita} = \frac{\text{GDP}}{\text{Population}} = \frac{25,000,000}{500} = 50,000 \]

Therefore, the GDP per capita is $50,000.

The correct answer is d $50,000.