Question

Suppose in 2018 the United States had consumption worth $13 trillion, investment worth $5 trillion, and government spending worth $3 trillion, with $2 trillion in exports and $3 trillion imports. What was its GDP per capita, assuming there were 400 million residents

Answer 1

USD 50,000

Step-by-step explanation:

The computation of the GDP per capita is given below:

GDP per capital = Real GDP ÷ Population

wherem

Real GDP is

= Consumption + investment + government spending + (exports - imports)

= $13 trillion + $5 trillion + $3 trillion + ($2 trillion - $3 trillion)

= $20 trillion

And, the population is 400 million

Now the GDP per capita is

= $20 trillion ÷ 400 million

= USD 50,000