Questions: 2010 Nominal GOP 14,527,000 Real GDP 15,599,000 Population 309.4 m 2020 Naminal GDP 21,061,000 Real GDP 18,509,000 Population 329.5

2010 Nominal GOP 14,527,000
Real GDP 15,599,000
Population 309.4 m
2020 Naminal GDP 21,061,000
Real GDP 18,509,000
Population 329.5
Transcript text: 2010 Nominal GOP 14,527,000 Real GDP 15,599,000 Population 309.4 m 2020 Naminal GDP 21,061,000 Real GDP 18,509,000 Population 329.5
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Solution

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To find the nominal GDP per capita in 2010, we need to use the following formula:

\[ \text{Nominal GDP per capita} = \frac{\text{Nominal GDP}}{\text{Population}} \]

Given the data for 2010:

  • Nominal GDP = 14,527,000 million dollars
  • Population = 309.4 million people

Now, we can plug these values into the formula:

\[ \text{Nominal GDP per capita} = \frac{14,527,000 \text{ million dollars}}{309.4 \text{ million people}} \]

\[ \text{Nominal GDP per capita} = \frac{14,527,000}{309.4} \]

\[ \text{Nominal GDP per capita} \approx 46,949.48 \text{ dollars per person} \]

So, the nominal GDP per capita in 2010 is approximately $46,949.48.

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