A tiny island country has a gross domestic product (GDP) of $25 million and a population of 500 citizens. What is its GDP per capita?(1 point)
To calculate the GDP per capita, we divide the country's GDP by its population.
GDP per capita = GDP / Population
GDP per capita = $25,000,000 / 500
GDP per capita = $50,000
Therefore, the GDP per capita of the tiny island country is $50,000.