a countrys gdp is $212,000,000 with a population of 24,941. if the rate of inflation is 2.6%, what is the…

a countrys gdp is $212,000,000 with a population of 24,941. if the rate of inflation is 2.6%, what is the countrys per capita gdp?\nper capita gdp = $?\nreal gdp = gdp - (gdp · inflation rate)\nper capita gdp = \\frac{real gdp}{population}\nround to the nearest cent.

a countrys gdp is $212,000,000 with a population of 24,941. if the rate of inflation is 2.6%, what is the countrys per capita gdp?\nper capita gdp = $?\nreal gdp = gdp - (gdp · inflation rate)\nper capita gdp = \\frac{real gdp}{population}\nround to the nearest cent.

Answer

Explanation:

Step1: Calculate Real GDP

First, we need to find the Real GDP using the formula ( \text{Real GDP} = \text{GDP} - (\text{GDP} \cdot \text{Inflation Rate}) ). The GDP is $212,000,000 and the inflation rate is 2.6% or 0.026. [ \begin{align*} \text{Real GDP} &= 212000000 - (212000000 \cdot 0.026)\ &= 212000000 - 5512000\ &= 206488000 \end{align*} ]

Step2: Calculate Per Capita GDP

Now, we use the formula for Per Capita GDP, which is ( \text{Per Capita GDP} = \frac{\text{Real GDP}}{\text{Population}} ). The population is 24,941. [ \text{Per Capita GDP} = \frac{206488000}{24941} \approx 8280.06 ]

Answer:

$8280.06