38. There is a 3-good country with 100 people living in that country. QuantityPriceValue Good 120$10$200...

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Question

38. There is a 3-good country with 100 people living in that country. QuantityPriceValue Good 120$10$200...

38. There is a 3-good country with 100 people living in that country.

QuantityPriceValue

Good 120$10$200

Good 230$5$150

Good 315$20$300

What is the GDP per capita?

Group of answer choices

1.50

2.50

3.50

6.50

business economics

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Answer 1

Answer #1

Given information

Good	Quantity	Price ($)	Value ($)
1	20	10	200
2	30	5	150
3	15	20	300
Total GDP			650

Total GDP can be calculated by adding the values of all the three goods produced.

Population of the country = 100

Calculate GDP per capita.

GDP per capita = GDP ÷ Population

GDP per capita = $650 ÷ 100

GDP per capita = 6.5

The GDP per capita will be 6.5

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Answer 2

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38. There is a 3-good country with 100 people living in that country. QuantityPriceValue Good 120$10$200...

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38. There is a 3-good country with 100 people living in that country. QuantityPriceValue Good 120$10$200...

Homework Answers

Add Answer to: 38. There is a 3-good country with 100 people living in that country. QuantityPriceValue Good 120$10$200...

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