T In 2001 the value of RGDP was $12.63 trillion, the population was 280.57 million, and...

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Question

Answer 1

Answer #1

In 2001,

Real GDP (RGDP) = $12.63 trillion = 12.63 * 10¹²

Population = 280.57 million = 280.57 * 10⁶

Number of people employed = 140,360 (in thousands)

Real GDP per capita is measured by dividing Real GDP by population.

Real GDP per capita = Real GDP Population

= (12.63 * 10¹²) / (280.57 * 10⁶)

= (12.63 * 10⁶) / 280.57

= 12630000 280.57

= 45015.504

= 45016 (round to the nearest whole number)

Therefore, Real GDP per capita = $ 45,016

Answer 2

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