Question

A nation's real GDP was $250 billion in Year 1 and $265 billion in Year 2. Its population was 120 million in Year 1 and 100 million in Year 2. What is its real GDP per capita in Year 2

Answer 1

Answer: $2,650 per person

Explanation:

Real GDP refers to the measure of the GDP of a country that has been adjusted due to inflation. Based on the information given in the question, the real GDP per capita in Year 2 will be:

Real GDP per capita will be:

= real gdp / population

=265 billion / 100 million

= 2650

Therefore, the real GDP per capita in Year 2 is $2,650 per person.

Answer 2

GDP at constant prices is divided by the population of a country or area to get real GDP per capita. Year 2's real GDP per capita is $2,650 per person.

In Year 2, what is the country's real GDP per capita?

The term "real GDP" refers to a country's GDP that has been corrected for inflation.

$\text{Real GDP per capita in year 2 will be}:$

$= \frac{ \text{Real gdp of Year 2}}{ \text{ Population of Year 2}} \\\\=\frac{265 \text{billion}}{100 \text{million}}\\ = 2650 \text{persons}$

As a result, the real GDP per capita in Year 2 is $2,650.

For more information about real GDP, refer below

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