Consider the following data for a hypothetical country for 2015. Total (Billions of Dollars) Consumption 12,268...

Consider the following data for a hypothetical country for 2015.

	Total (Billions of Dollars)
Consumption	12,268
Investment	3,018
Government Purchases	3,184
Net Exports	-532

1. What is the GDP for 2015?

2. What percentage of GDP is Consumption?

3. If the population is 300 million people what is the GDP per capita in this country?

Solutions

Expert Solution

1) GDP = C + I + G + NE = 12,268 + 3,018 + 3,184 - 532 = $17,938 billion.

2) The percentage of consumption in GDP = (12,268 / 17,938) * 100 = 68.39%.

3) GDP per capita = $17,938 billion / 300 million = 17,938,000,000,000 / 3,000,000,000 = $5,979.33.

Rahul Sunny answered 1 year ago

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