Calculate the real GDP per capita of New Amsterdam based on the following information

Real GDP : US$100 million

Population size : 1 million

Labour force: 7.5 million

Question

Calculate the real GDP per capita of New Amsterdam based on the following information

Real GDP :   US$100 million

Population size :    1 million

Labour force:   7.5 million

BlackTom AI · Accepted Answer

To approach this question, start by identifying what real GDP per capita means: it is the real GDP divided by the population size.
Option 1: US$103.5. This would require a GDP per person of 103.5, which would imply either real GDP is larger than 103.5 times the population or the population is smaller. Given the data, real GDP is 100 million and population is 1 million, so 100 per person is the correct scale, not 103.5.
Option 2: US$100. This aligns with the calculation 100 million ÷ 1 million = 100. Since population is 1 million, the per-capita output indeed equals 100 dollars per person.
Option 3: US$107.5. Similar to option 1, this would require a higher per-person figure than the data support; with 100 million total real GDP and 1 million people, 107.5 per person would not come from these numbers.
Option 4: US$133.3. This is substantially higher than the computed 100 and would suggest a much larger GDP per person than the data provide, which is inconsistent with 100 million divided by 1 million.
In summary, only the US$100 option matches the basic arithmetic of real GDP divided by population, while the other figures imply per-capita values that are not supported by the given totals. The labour force value (7.5 million) is not needed for this calculation and does not affect the GDP per capita result here.

Calculate the real GDP per capita of New Amsterdam based on the following information Real GDP : US$100 million Population size : 1 million Labour force: 7.5 million

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