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)Responses$2,000$2,000$125 million$125 million$50,000$50,000$25 million$25 million
To calculate the GDP per capita, you divide the country's GDP by its population.
GDP per capita = GDP / Population
In this case, the GDP is $25 million and the population is 500.
GDP per capita = $25 million / 500 = $50,000
Therefore, the GDP per capita is $50,000.