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? (2 points)
A. $25 million
B. $50,000
C. $2,000
To calculate the GDP per capita, you need to divide the GDP by the population.
GDP per capita = GDP / Population
In this case,
GDP per capita = $25 million / 500
GDP per capita = $50,000
Therefore, the correct answer is B. $50,000.