Question

Ethiopia has a GDP of $8 billion (measured in U.S. dollars) and a population of 55 million.

Costa Rica has a GDP of $9 billion (measured in U.S. dollars) and a population of 4 million.

Calculate per person GDP for each country.

Answer 1

Answer:

Ethiopia = $146; Costa Rica = $2,250

Explanation:

The GDP per person, also known as GDP per capita is a very simple formula:

GDP Per Capita = Country's GDP / Country's Population

A) Ethiopia GDP Per Capita = $8,000,000,000 / 55,000,000

                                              = $146

B) Costa Rica GDP Per Capita = $9,000,000,000 / 4,000,000

                                                  = $2,250