in the real GDP of a country in 2011 was 425 billion, its price index was...

Question

Question

in the real GDP of a country in 2011 was 425 billion, its price index was...

in the real GDP of a country in 2011 was 425 billion, its price index was 108.3 and its population was 300 billion. What is the real GDP per capita for that year?

business economics

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

Ans. Real GDP in 2011 = 425billion, price index = 108.3 and population = 300 billion, then

Real GDP per capita in 2011 = Real GDP in 2011/ population in 2011

Real GDP per capita in 2011 = 425 billion/300 billion

Real GDP per capita in 2011 = $1.4167 per person

Hence, the Real GDP per capita in 2011 is $1.4167 per person

Add a comment

Answer 2

Similar Homework Help Questions

Real GDP = Nominal GDP GDP Chain Index (Prices)*100 Population Year Nominal GDP GDP chain index...

Real GDP = Nominal GDP GDP Chain Index (Prices)*100 Population Year Nominal GDP GDP chain index CPI (2012-100) (1982- 84=100) 2007 S 14,681.5 billion 93.150 211.445 2008 S 14,559.5 billion 94.896 211.398 2009 $ 14,628.0 billion 95.269 217.347 2010 $ 15,240.8 billion 96.781 220.472 2011 $ 15,796.5 billion 98.676 227.223 2012 $ 16,358.9 billion 100.728 231.221 2013 $ 17,083.1 billion 102.551 234.719 2014 $ 17,849.9 billion 104.078 236.252 2015 $ 18,350.8 billion 104.997 237.817 2016 $ 18,991.9 billion 106.543 242.772...
The following data show nominal GDP and the appropriate price index for several years. All GDP...

The following data show nominal GDP and the appropriate price index for several years. All GDP are in billions. Use for questions 16 and 17. Nominal Price Year GDP level Real GDP index $117 124 143 149 96 178 112 220 143 **hint: only need Real GDP for years 1,5 and 6 16. The change in GDP from Year 1 to Year 6 is: a. Increase $56 billion b. Increase $46 billion c. Decrease $56 billion d. Decrease $46 billion...
What is most likely happening if a country s real GDP is rising, but its real GDP per capita is falling? -Its price leve...

What is most likely happening if a country s real GDP is rising, but its real GDP per capita is falling? -Its price level is growing faster than its output -Its output is growing faster than its price level -Its output is growing faster than its population-Its population is growing faster than its output

In 2010, real GDP in the country of Populia was $907.5 billion and the population was...

In 2010, real GDP in the country of Populia was $907.5 billion and the population was 3.3 million. In 2009, real GDP was $750 billion and the population was 3 million. What was the percentage change in real GDP per person in Populia between 2009 and 2010? 10 percent 14 percent 17 percent 21 percent
Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .

Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .Today the RGDP per capita in A is _______ times the value in B.Country A is growing at a rate of 3.5 % per year and Country B is growing at a rate of 7 % per year. Assume these growth rates do not change.Country A will double its RGDP per capita in _______ years...
Suppose that in 2005 Real GDP was $40 billion and the GDP price index was 1.20....

Suppose that in 2005 Real GDP was $40 billion and the GDP price index was 1.20. If nominal GDP increased by 40% between 2005 and 2006, what was Nominal GDP in 2006? Select one: a. $44.0 billion b. $48.4 billion O C. $62.9 billion O d. $67.2 billion e. $71.7 billion

20. In year 0, Country A has a real GDP per capita of $1,200. If Country...

20. In year 0, Country A has a real GDP per capita of $1,200. If Country A grows at a constant rate of 2% per year and Country A's population remains constant, what is Country A's real GDP per capita by year 20? (Round to the nearest dollar.)
Country A starts with real GDP per capita equal to $40,000 and Country B starts with...

Country A starts with real GDP per capita equal to $40,000 and Country B starts with real GDP per capita equal to $2,000. Today the RGDP per capita in A is ___ times the value in B. Country A is growing at a rate of 3.5% per year and Country B is growing at a rate of 7% per year. Assume these growth rates do not change. Country A will double its RGDP per capita in _____ years and country...
Nominal GDP Real GDP 2011 $13,295 billion $11,519 billion 2012 $14,041 billion $11,767 billion In 2011,...

Nominal GDP Real GDP 2011 $13,295 billion $11,519 billion 2012 $14,041 billion $11,767 billion In 2011, the value of the GDP deflator is(Enter your response rounded to the nearest whole number)

Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 =...

Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 = base year) Growth (%) in Real GDP from previous year 1977 2,030.9 4,750.5 42.8 6.4% 1978 2,294.7 45.8 1998 8,747.0 9,066.9 4.2% 1999 9,268.4 97.9 2000 9,817.0 9,817.0 2001 10,128.0 9,890.7 2002 10,487.0 10,074.8 104.1 2003 11,004.0 106.0 2004 11,735.0 108.3 6.What was the price index value for the US in the base year? 7.What was real GDP for the US in the year...

in the real GDP of a country in 2011 was 425 billion, its price index was...

Homework Answers

Add Answer to:
in the real GDP of a country in 2011 was 425 billion, its price index was...

Post as a guest

Earn Coins

Real GDP = Nominal GDP GDP Chain Index (Prices)*100 Population Year Nominal GDP GDP chain index...

The following data show nominal GDP and the appropriate price index for several years. All GDP...

What is most likely happening if a country s real GDP is rising, but its real GDP per capita is falling? -Its price leve...

In 2010, real GDP in the country of Populia was $907.5 billion and the population was...

Country A starts with real GDP per capita equal to $ 40,000 and Country B starts with real GDP per capita equal to $ 2,000 .

Suppose that in 2005 Real GDP was $40 billion and the GDP price index was 1.20....

20. In year 0, Country A has a real GDP per capita of $1,200. If Country...

Country A starts with real GDP per capita equal to $40,000 and Country B starts with...

Nominal GDP Real GDP 2011 $13,295 billion $11,519 billion 2012 $14,041 billion $11,767 billion In 2011,...

Year Nominal GDP (billions of $) Real GDP (billions of 2000 $) Price Index (2000 =...

in the real GDP of a country in 2011 was 425 billion, its price index was...

Homework Answers

Add Answer to: in the real GDP of a country in 2011 was 425 billion, its price index was...

Post as a guest

Earn Coins

Add Answer to:
in the real GDP of a country in 2011 was 425 billion, its price index was...