the gdp in france is $2.58 trillion. the rate of inflation is 2.5%. if the population of france is…

the gdp in france is $2.58 trillion. the rate of inflation is 2.5%. if the population of france is 64,842,000, find the per capita gdp in this country. real gdp = gdp - (gdp · inflation rate) per capita gdp = real gdp / population per capita gdp = $? round to the nearest cent.

the gdp in france is $2.58 trillion. the rate of inflation is 2.5%. if the population of france is 64,842,000, find the per capita gdp in this country. real gdp = gdp - (gdp · inflation rate) per capita gdp = real gdp / population per capita gdp = $? round to the nearest cent.

Answer

Explanation:

Step1: Calculate real GDP

First, convert the inflation - rate to a decimal. The inflation rate is 2.5% or 0.025. The formula for real GDP is Real GDP = GDP-(GDP×Inflation Rate). Given GDP = 2.58 trillion = 2580000000000. Real GDP=2580000000000-(2580000000000×0.025) Real GDP = 2580000000000×(1 - 0.025) Real GDP=2580000000000×0.975 Real GDP = 2515500000000

Step2: Calculate per - capita GDP

The formula for per - capita GDP is Per Capita GDP=$\frac{Real\ GDP}{Population}$. The population is 64842000. Per Capita GDP=$\frac{2515500000000}{64842000}$ Per Capita GDP≈38809.75

Answer:

38809.75