Questions: Question 15 2 pts ln 2017: Italy India GDP 1.953 trillion (in USD) 2.597 trillion (in USD) Population 60.59 million 1.339 billion GDP per capita ? ? Which country has a higher GDP per capita, and maybe a better standard of living? Libya India Italy

Solution Steps

To determine which country has a higher GDP per capita, we need to calculate the GDP per capita for both Italy and India. GDP per capita is calculated by dividing the GDP by the population. Once we have these values, we can compare them to determine which country has a higher GDP per capita.

The GDP per capita for Italy is calculated using the formula:

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

Substituting the values:

\[ \text{GDP per capita}_{\text{Italy}} = \frac{1.953 \times 10^{12}}{60.59 \times 10^{6}} \approx 32233.0418 \]

Similarly, the GDP per capita for India is calculated as follows:

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

Substituting the values:

\[ \text{GDP per capita}_{\text{India}} = \frac{2.597 \times 10^{12}}{1.339 \times 10^{9}} \approx 1939.5071 \]

Now we compare the two GDP per capita values:

\[ \text{GDP per capita}_{\text{Italy}} \approx 32233.0418 \quad \text{and} \quad \text{GDP per capita}_{\text{India}} \approx 1939.5071 \]

Since \( 32233.0418 > 1939.5071 \), Italy has a higher GDP per capita.

Final Answer