a tiny island country has a gross domestic product (GDP) of $25 million and a population of 500 citizens. What is its GDA per capita?
To calculate the Gross Domestic Product (GDP) per capita in this scenario, we divide the GDP by the population.
GDP per capita = GDP / Population
In this case, the GDP is $25 million and the population is 500.
GDP per capita = $25,000,000 / 500 = $50,000
Therefore, the GDP per capita for this tiny island country is $50,000.