Use the bar graph from the World View: "GDP per Capita around the World" to answer one question

Economics Feb 15, 2021

Use the bar graph from the World View: "GDP per Capita around the World" to answer one question.

55.980 47,54045,940 38,840
27.450
GDP per Capita (2015) (in U.S. dollars)
23,550
11,450 10,093 9,710 r7,930 6,000
2,160 1,600 810 590
2,C _05) e e 0000,$) v e 0
In 1995, America's GDP per capita was approximately $38,000 (measured in today's dollars). How much higher in percentage terms was America's GDP per capita in 2015?
Instructions: Enter your response as a percentage rounded to one decimal place. Use the equation to measure percentage change = (new — old) / old x 100.

Expert Solution

Computation of Percentage Change in GDP per Capita:

Percentage change = (New - Old) / Old * 100 %

Percentage change = (55980 - 38,000) / 38,000 * 100 = 47.32%

So, there is a increase of 47.32% in GDP per capita in 2015.

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