Question
In: Economics
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 2 years agoRelated Solutions
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