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 the per capita GDP for each country and identify which one is higher.

Answer 1

Per capita GDP for Ethiopia is $145.45. The per capita GDP for Costa Rica $2,250.

Costa Rica has higher per capita GDP.

Step-by-step explanation:

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.

Per capita GDP for Ethiopia

=
`(GDP)/(Population)`

=
`(8000)/(55)`

= $145.45

Per capita GDP for Costa Rica

=
`(GDP)/(Population)`

=
`(9000)/(4)`

= $2,250