Question

India's GDP is 23 trillion rupees and its population is 1.1 billion . The exchange rate...

India's GDP is 23 trillion rupees and its population is 1.1 billion . The exchange rate with the U.S. dollar is $1 = 50 rupees . Find GDP per capita in U.S. dollars. Round your answer to the nearest dollar.

Business   Economics   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

1) GDP percapita is the GDP per head of the population.GDP percapita can be calculated using the following formula.

GDP percapita = GDP/ Total population

= 23 trillion / 1.1 billion

= 23,000,000,000,000/1,100,000,000

= 20909.0909091 rupees

Its given that 1 dollar= 50 rupee

So, in order to convert percapita GDP into dollar it must be divided by 50

Percapita GDP in dollar =20909.0909092/50= 418.18 dollar

Rounding the answer to nearest dollar, percapita GDP of India in terms of US dollar = 418 $

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
From 1990 to 2010, China saw its nominal GDP increase from $1.5 Trillion to $8 Trillion....
From 1990 to 2010, China saw its nominal GDP increase from $1.5 Trillion to $8 Trillion. In 1990 its CPI was 100 and in 2010 its CPI was 195. The population grew from 1.15 billion in 1990 to 1.3 billion in 2010. The total change in total real GDP over this period was approximate? What is the real GDP per capita? The answer is 1.735 (173.5%) growth in GDP, please provide the steps!
Web-Based Question: Per Capita GDP and the Growth Rate of GDP Visit the CIA Factbook website  (Links...
Web-Based Question: Per Capita GDP and the Growth Rate of GDP Visit the CIA Factbook website  (Links to an external site.). Find the following information: Country Population GDP - Purchasing Power Parity GDP - real growth rate GDP - Per Capita U.S. 329.3 Mill 19.49 Trillion 2.2% $59,800 Japan 125.5 Mill 5.443 Trillion 1.7% $42,900 China 1.4 Billion 25.36 Trillion 6.9% $18,200 Compare and contrast the economies of the three countries based on the data you find. Draw some conclusions about...
Pakistan’s GDP in 2010, using the official exchange rate on 1/1/2010, is equal to $300 billion...
Pakistan’s GDP in 2010, using the official exchange rate on 1/1/2010, is equal to $300 billion USD ($300,000,000,000). When the same GDP is converted to dollars using the PPP-implied exchange rate on 1/1/2010, the USD value of the GDP increases to $500 billion ($500,000,000,000). On 1/1/2010, is the Pakistani Rupee overvalued or undervalued against the USD? Explain your answer.
Answer the following questions. Instructions: Enter your responses rounded to the nearest dollar. a. How much...
Answer the following questions. Instructions: Enter your responses rounded to the nearest dollar. a. How much more output does the $20 trillion U.S. economy produce when GDP increases by 1.0 percent? $ billion b. By how much does this increase per capita income if the U.S. population is 340 million?
GDP per Capita Growth and Rule of 72 Current Year Previous Year Growth Rate Real GDP...
GDP per Capita Growth and Rule of 72 Current Year Previous Year Growth Rate Real GDP $8.4 trillion $8.0 trillion Population 202 million 200 million GDP per Capita $ $ Formulas you could use: Growth Rate in percentage = (Current year value – previous year value)/ previous year GDP per Capita = Real GDP/population (Ch6 Section 6.4) Future value = Present value x (1 + growth rate)^number of years (Ch7 Section 7.2) Rule of 72: 72/growth rate = number of...
Suppose the real GDP of an economy is $560 billion dollars and its unemployment rate is...
Suppose the real GDP of an economy is $560 billion dollars and its unemployment rate is 6%. If the natural rate of unemployment is estimated at 4%, what is the value of the country’s potential GDP (LAS) in billions of dollars? Enter your response below rounded to 1 decimal place. Value of the country’s potential GDP (LAS) is ____$ billion.
Suppose Japan has a GDP of $5 trillion, and that its national savings rate is 25%....
Suppose Japan has a GDP of $5 trillion, and that its national savings rate is 25%. Assuming Japan is an open economy, i. Calculate Japan’s investment if net exports are 1% of GDP ii. Calculate Japan’s exports if imports are valued at $650 billion.
12. Suppose that real output for a small developing country in year 1 is $1.9 billion...
12. Suppose that real output for a small developing country in year 1 is $1.9 billion and that population is 2.1 million. Instructions: In parts a and b, round your answers to the nearest dollar. a. What is per capita GDP?      $ b. If real output in year 5 increases to $2.2 billion and population increases to 2.5 million, what is the new per capita GDP?      $ c. Has the average standard of living for this small developing...
The economy of Bartovia had a GDP per capita of 1,200 dollars in 1960 when its...
The economy of Bartovia had a GDP per capita of 1,200 dollars in 1960 when its population was 15 million people. In 2018, Bartovia’s aggregate GDP was 60 billion dollars and we know that its population had grown at an average annual growth rate of 1% from 1960 to 2018. a. Compute the aggregate GDP of Bartovia in 1960. b. Compute the average annual growth rate of aggregate GDP in Bartovia from 1960 to 2018. c.Compute the population of Bartovia...
The rate of growth of real GDP is 8​%, and the rate of growth of the...
The rate of growth of real GDP is 8​%, and the rate of growth of the population is 6​%. The rate of growth of per capita real GDP is __​%. (Round your response to the nearest whole​ percent.)
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT