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Suppose that nominal GDP in 2016 is $250,593 million and the population in 2016 is 4
Suppose that nominal GDP in 2016 is $250,593 million and the population in 2016 is 4.6 million. Nominal GDP per capita in 2016 is:
a)54477
b)56329
c) 48743
d) 49166
Expert Solution
Computation of Nominal GDP per capita:
Nominal GDP per capita = Nominal GDP/ Population
= $250,593 million/4.6 million
Nominal GDP per capita = 54,476.74 or 54,477
So, the correct option is A "54,477".
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