Question

Country a has a gdp of $60,000,000, and country b has a per capita gdp of $2,000. if the populations of countries a and b are 40,000 and 20,000, respectively, which country is most developed based on per capita gdp, and why

Answer 1

With respect to the GDP per capita, country B is a more developed economy with a per capita GDP of $2,000.

What is GDP per capita?

The total GDP of a nation divided by its total population is regarded as its GDP per capita. In the given case, the GDP per capita of country A will be computed as $1500, and that of country B is given as $2000.

Hence, country B is more developed with a GDP per capita of $2,000.

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