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?
A ) $2,000
B ) $50,000
C ) $125 million
D ) $25 million
A) $2,000
To calculate GDP per capita, you divide the GDP by the population.
$25 million GDP / 500 citizens = $50,000 GDP per capita