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Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364

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BuyFindarrow_forward

Principles of Economics 2e

2nd Edition
Steven A. Greenlaw; David Shapiro
ISBN: 9781947172364
Textbook Problem

The Czech Republic has 3 GDP of Chapter 19, Problem 33P, The Czech Republic has 3 GDP of billion koruny. The exchange rate is 25 koruny/U.S. dollar. The billion koruny. The exchange rate is 25 koruny/U.S. dollar. The Czech population is 20 million. What is the GDP per capita of the Czech Republic expressed in U.S. dollars?

To determine

The GDP per capita of the Czech Republic.

Explanation

Calculation of GDP per capita:GDP per capita = GDPPopulation

The Czech Republic has a GDP = 1,800 billion Koruny.

The Czech Republic has a GDP = (1800 / 25) = 72 billion Dollars.

The Czech population = 20 million = 0

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