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Assume the total real output of a developing country increases from $8 billion to $8.2 billion while its population expands from 14 to 15 million people from one year to the next. Over the year, real GDP per capita has

Respuesta :

The New GDP Per Capita is decreased by $25 per person as compared with the previous GDP per capita.

What is a formula to calculate GDP per Capita?

The Formula to calculate GDP per capita is the Gross Domestic Product (GDP) of a country divided by population of a country.

Given

Before Increasing

GDP = $8000000000

Population = 14,000,000

By Using the above formula we calculate GDP per capita before Increasing both the factors.

GDP per capita = GDP is divided by the population.

                          = 8000000000/14,000,000

                          = $572 (Approx)

After Increasing

GDP = $8200000000

Population = 15,000,000

By Using the above formula we calculate GDP per capita after Increasing both the factors.

GDP per capita = GDP is divided by the population.

                          = 8200000000/15,000,000

                          = $547 (Approx)

Thus, after comparing GDP we get there is a decrease in GDP per capita by $25 ($572 -$547).

Learn more about GDP per capita here:

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