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8.3 PRACTICE QUESTIONS 1. In a given year, a country's GDP in terms of the country's own dollars is $235 billion. a. If the country's

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8.3 PRACTICE QUESTIONS 1. In a given year, a country's GDP in terms of the country's own dollars is $235 billion. a. If the country's population is 6 million, then what is its per capita GDP? b. If each of the country's own dollars is worth US$0.56, then what is the country's per capita GDP in terms of US dollars? c. If each of the country's dollars is worth US$0.60 after adjusting for purchasing power parity, then what is the country's per capita GDP in PPP-adjusted US dollars? d. Explain why the country's per capita GDP in PPP-adjusted US dollars is higher than its per capita GDP in unadjusted US dollars

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