Answered: The GDP in China is $12.2 trillion. The…

The GDP in China is $12.2 trillion. The rate of inflation is 2.5%. If the population of China is 1,421,021,000, find the per capita GDP in this country.

Principles of Economics 2e

2nd Edition

ISBN:9781947172364

Author:Steven A. Greenlaw; David Shapiro

Publisher:Steven A. Greenlaw; David Shapiro

Chapter19: The Macroeconomic Perspective

Section: Chapter Questions

Problem 31P: Ethiopia has a GDP of 8 billion (measured in U.S. dollars) and a population of 55 million. Costa...

See similar textbooks

Related questions

Q: Jones has a utility function u = m0.5. His initial wealth is mo 1000. He is considering Mr. to…

A: The expected value (EV), which is often referred to as mean value, is a metric that is used to…

Q: Price (Php/kg) 5 10 15 Total Cost of production (Php) Average Price Average Quantity qs 1 (pc) 5 10…

A: Supply and quantity supplied are different things. Price and quantity supplied are the positively…

Q: Malika's Pizzas is a takeout-only pizza parlor servicing the college campus of Santa Barbara that…

A: Production function shows the relationship between the inputs used and the output produced.…

Q: 1. Suppose the households in a hypothetical economy has the following consumption function C= a +…

A: Since you have posted a question with multiple sub-parts, we will solve the first three sub-parts…

Q: Worldwide Versus Territorial. What is the difference between the worldwide and territorial…

A: One of the main motives of taxes is redistribution. The taxes are said to be regressive when it…

Q: Chicken prices skyrocket in Penang markets. GEORGE TOWN: Fresh chicken at wet markets here now cost…

A: Demand refers to the various units of a good that the consumers are willing to purchase at different…

Q: Explain how each of the following transactions generates two entries–a credit and a debit–in the…

A: The balance of payments is a balance or record of all the transactions in the economy that are…

Q: can you explain why the FED is cranking up interest rates? What is that doing to M1? what impact do…

A: Central bank F frames and implements monetary policies in the economy. The primary aim of these…

Q: Express covariance between two variables for a given third variable in terms of conditional…

A: covariance refers to a measure of the relationship between 2 random variables. In other words, we…

Q: If an excise tax on cigarettes offsets the negative externalities associated with smoking, it means…

A: Externality is the term used to describe a cost (negative externality) or benefit (positive…

Q: Which of the following is the least likely example of asymmetric information? a. King Solomon and…

A: Asymmetric Information basically refers to the situation in which there are two parties in the…

Q: Why some oligopolistic firms try to collude to fix market prices?

A: Bertrand Duopoly model: This is an oligopoly model where 2 firms compete in the market. Here both…

Q: What are the causes of disfavourable terms of trade in underdeveloped countries?

A: The ratio of the index of export prices to the index of import prices is known as the terms of…

Q: Suppose the production functions of the decision maker below indicate the effect of seeding rate on…

A: Given production function y1 = −1.6 + 0.085x − 0.0005x2 wet season y2 = −1.7 + 0.087x − 0.0006x2 dry…

Q: Price Qd Qs1 Qs2 $20 0 10 8 $18 1 9 7 $15 2.5 7.5 5.5 $12 4 6 4 $10 5 5 3 $5…

A: An externality is a benefit or expense that an individual experiences as a result of the creation or…

Q: 40% on income up to $25,000 30% on income between $25,000 and $34,000 25% on income between $34,000…

A: Tax is imposed by the government to earn revenue for spending in an economy. Taxes can be classified…

Q: to d) Interest rate is 9% for years 1-5, and it is 8% for years 5-24 nse: 1 2 200 3 i=%10 yıllık 4 5…

A: Each dollar is able to earn some interest if invested somewhere or deposited in the bank. Therefore,…

Q: Evolving into Multinationalism. As a firm evolves from purely domestic into a true multinational…

A: When a firm evolves from a purely domestic enterprise into a multinational enterprise (MNE), it…

Q: Assume a perfectly competitive market. Draw the average total cost, average variable cost, marginal…

A: In perfect competition , The profit maximizing quantity is where P = MC. P = MR in the perfect…

Q: Which of the following statements are true of the savings and loan crisis of the 1980s and early…

A: The Savings and Loan crisis (S&L) was a slow moving financial disaster which resulted in the…

Q: b) What is the Dominant strategy of ADM? c) What is the Dominant strategy of Ajinomoto? e) If…

A: Dominant strategy is the strategy which will not change when the opponent hanges it's strategy.…

Q: What is single tax system? Write its merits and demerits.

A: Taxes are compulsory payments made by the citizens, government organisations, whether local,…

Q: Bank loan with 850000 SEK to buy a house. Published official rate is 5.39% Current year inflation…

Q: Why should a firm shut down immediately when it can no longer cover their variable.

A: The firm's shutdown point is where the average variable cost is at its minimum. It is the price…

Q: why would someone rather be a borrower during a period of unexpected rising inflation, and a lender…

A: Inflation is rise in average general price level of goods and service over period of time. if…

Q: Suppose that managers at Honda are deciding how to price the new Honda Accord. The managers estimate…

A: Profit refers to the difference between total revenue and total cost. The aim of any rational firm…

Q: Assume that banks do not hold excess reserves and that households do not hold currency, so the only…

A: A money multiplier is an expression in monetary economics that is a phenomenon of generating money…

Q: HighFlyer Airlines wants to build new airplanes with greatly increased cabin space. This will allow…

A: The opportunity cost is the cost of the next best alternative. It can be said that opportunity cost…

Q: A husband want to save money 450000 SR, to prepare for a gift for his girlfriend , he plan to bring…

Q: In a certain city the promotion of tourism in the city is being considered. It will cost $6,000 to…

A: Cost-benefit analysis studies the combination of various benefits and cost levels. It states whether…

Q: This “Rule of the Game” in the Plantation economy model, specifies the area of influence of the…

A: “Rule of the Game” in the Plantation economy model, specifies the area of influence of the Metropole…

Q: 19:12 1! ← ECON-100 MC Questions-22 DEC 2022 - Rea READ-ONLY - This is an older file for... 1) In…

A: "Since multiple questions have been asked by you, we will solve only the first questions. Please…

Q: What is an opportunity cost

A: Regardless of the amount of the capital investment, economic cost tells us what is expectedly most…

Q: 4. A semiconductor manufacturer has been ordered by the city to stop discharging untreated, acidic…

A: Present value is the value of investment in today's dollar. Future value is the value of investment…

Q: Substantial economic slumps come from falling aggregate demand-the sum of overall consumption,…

A: Consumer theory: The study of how people spend their money based on their individual preferences and…

Q: EXERCISE 3 If Joe decides to allocate his entire weekly allowance between energy drinks and coffee,…

A: The budget line is a graphical delineation of all potential blends of the two commodities that can…

Q: The Federal Bank increases Zion Bank’s reserve rate. This Fed tactic is designed to heat up the…

A: Contractionary monetary policy refers to an approach used by Federal Bank during booming growth…

Q: A consumer who maximizes utility enjoys eating free hot dogs. Calculate the consumer's marginal…

A: Marginal utility refers to the economic tool to analyze the additional satisfaction obtained by a…

Q: 3. The wage rate is £10 and the capital rate is £20. If a firm was spending £c, show what…

A: An isocost line is the locus of input combinations for a particular cost outlay of the firm. A firm…

Q: Players 1 and 2 work together to produce an output with value X X= 12e1 +9e2 where e; is the effort…

Q: what are some things that should be exempt from tax

A: In a government Budget, Taxes are one of the major sources of Income. Taxes are charged either on…

Q: Which of the following items can be considered money in the Canadian economy? Explain your answers…

Q: Which of the following best describes average cost regulation of a natural monopoly? O a. It…

A: A natural monopoly is a type of monopoly structure where a single firm is selling the product and…

Q: Two firms H and L have discrimination coefficients dH and dL, where dH > dL. Briefly explain the…

A: Discrimination is the concept used in the labor market where workers are paid different wages as per…

Q: Suppose Lagatt Green charges $2.50 per bottle. Your study partner Jabrill says that because Lagatt…

A: In monopoly , Profit is maximized where MR = MC MR is the marginal revenue MC = Marginal Cost…

Q: P = 225 4Q D P = 50+3Qs How much is producers' surplus generated when this market operates in…

A: Producer surplus is the area below price and above supply curve. Equilibrium is where demand curve…

Q: 1. Definition of economic costs Yakov lives in San Diego and operates a small company selling bikes.…

A: The total cost incurred in operating a business is the sum of "Implicit and Explicit cost". Implicit…

Q: The most important advantage of discount policy is that the Fed can use it to perform its role as…

A: By raising or lowering interest rates, the central bank can control the flow of money in the economy…

Q: Patrons at the Ritzy cinema can either buy their tickets at the counter (from a person) or enter…

A: Since you have asked us to answer only question 8, we will answer Part C for you since the questions…

Q: A seller has an indivisible asset to sell. Her reservation value for the asset is s, which she knows…

A: The reservation value for a seller is the minimum price that a seller wishes to receive for the…

Question

The GDP in China is $12.2 trillion. The rate of
inflation is 2.5%. If the population of China is
1,421,021,000, find the per capita GDP in this
country.
per capita GDP = $ [?]
Round to the nearest hundredth.
CHID
Enter
123
11/25/20

Expert Solution

This question has been solved!

Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.

This is a popular solution!

SEE SOLUTION Check out a sample Q&A here

Step 1

VIEW

Step 2

VIEW

Trending now

This is a popular solution!

Step by step

Solved in 2 steps

SEE SOLUTION Check out a sample Q&A here

Knowledge Booster

Learn more about

Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, economics and related others by exploring similar questions and additional content below.

Similar questions

The GDP in Mexico is $1.15 trillion. The rate of inflation is 2.5%. If the population of Mexico is 124,777,000, find the per capita GDP in this country. per capita GDP = $ [?] Round to the nearest hundredth.
GDP in Singapore (2019) is equal to 507.568 billion Singapore Dollars. What is the value of Singapore’s GDP in US Dollars if with 1 USD, you can buy 1.37 SGD?
What was the GDP rate IN AMERICA before pandamic
Find net Exports if :- Exports = $4300 million Imports = $3600 million
The level of nominal GDP in 2000 was 10.098 billion. The level of nominal GDP in 2021 is projected to be 432.197 billion . Total nominal GDP of this country has increased by. the last 20 years ? % in
India has 1.3 billion people and a GDP of 196 trillion Indian rupees. 75 rupees are exchanged for every dollar. Determine the GDP per person in India, expressed in US dollars.
If Gdp deflator is less than 100 it means that : 1- stagflation 2- deflation 3- inflation 4- stability
The Czech Republic has a GDP of 1,800 billionkoruny. The exchange rate is 25 koruny/U.S. dollar. TheCzech population is 20 million. What is the GDP percapita of the Czech Republic expressed in U.S. dollars?
Find national Savings given that :- National domestic income = $3100 million National consumption expenditure = $4000 million
Solve corre
No written by hand solution The table below shows national data for the economy of Westfall. Round your intermediate calculations to one decimal place. Enter your responses rounded to one decimal place with the exception of Real GDP per capita that can be entered as a whole number. a. Fill in the blanks in the table below. 201820192020Nominal GDP (in billions)$650$730$ GDP deflator (2010 = 100)112 121Real GDP (in billions)$ $617$ Population (in millions)44 45Real GDP per capita$ $13,854$14,349 b. The inflation rate in 2019 is %. c. The growth rate of real GDP per capita in the year 2020 is %.
year Good A Good B Litres of water Kilos of apples PA X QA Pa X Qu 2018 2t X 100 3t X 400 2019 36X 200 4E X 500 2020 46 X 300 6t X 600 Let P = the per-unit market price: Q- the number of units produced and sold of each of the final goods produced within the nation, in a given year (le. GDP). Let 2018 be the base year. The percentage (%) change in nominal GDP from 2019 to 2020 (regardless of base year) is: OA) 0.85 (= 85%) B) 0.66 (- 66%) O9 0.56 (- 56%) D) 0.76 (- 76%) E) 0.46 (- 46%)