A tiny island country has a gross domestic product (GDP) of $25 million and a population of 500 citizens. What is its GDP per capita? ( 1 point )
A.) $25 million
B.) $50,000
C.) $125 million
D.) $2,000
To calculate the GDP per capita, you need to divide the country's GDP by its population.
GDP per capita = GDP ÷ population
GDP per capita = $25 million ÷ 500 citizens
GDP per capita = $50,000
Therefore, the correct answer is B.) $50,000.