The Czech Republic has a GDP of 2,000 billion koruny. The exchange rate is 20 koruny...
The Czech Republic has a GDP of 2,000 billion koruny. The exchange rate is 20 koruny per U.S. dollar. The Czech population is 20 million. Calculate the per capita GDP of the Czech Republic in U.S. dollars.
Homework Answers
Since the Czech Republic has a GDP of 2,000 billion koruny.
The exchange rate is 20 koruny per U.S. dollar.
The Czech population is 20 million.
The per capita GDP of the Czech Republic = GDP/population
=2,000 billion koruny / 20 million.
=2,000,000 millions koruny / 20 millions
=100,000 koruny
The per capita GDP of the Czech Republic in US dollars
=100,000 koruny /20
=$5,000
The per capita GDP of the Czech Republic in US dollars $5,000 per head.
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