Economics math practice

NAME DATE CLASS Math Practice for Economics networks Computing Per Capita Gross Domestic Product (GDP) Introduction Gross Domestic Product per capita is often used as a rough measure of a nation's prosperity. Source estimates vary, but the United States and other developed countries have GDP per capita that ranges between $12,000 and $27,000 annually. GDP per capita in developing nations is considerably less, and in the world's poorest nations it is extremely low. Directions: Try computing the GDP per capita for selected countries. The table below provides the data you need. You also need to know a few things before getting started. The abbreviation B stands for billion, and the abbreviation 7 indicates trillion. To simplify the math, round the population to the nearest million and rewrite GDP in millions, as is shown in the first two rows. Then, to fill out the GDP Per Capita column, plug the data from the Population (in millions) column and the GDP (in millions) column into the equation below and round your answers to the nearest dollar. You may use a calculator if needed. GDP Per Capita = GDP + Population Population GDP Country Population GDP GDP (in millions) (ppp) (in millions) Per Capita Afghanistan 32,564,000 32.5 $62.32 B $62,320 $1,917 Cambodia 15,709,000 15.7 $54.21 B $54,210 21. China 1,367,485,000 $19.51 T 11. 22. Ecuador 15,868,000 2. $183.4 B 12. 23. France 66,554,000 3. $2.65 T 13 24 ran ted to reproduce for dasroom use Gabon ,705,000 $34.58 B 14. 25. India 1,251,696,000 5. $7.96 T 15. 26. Japan 126,920,000 6. $4.83 T 16. 27 Madagascar 23,813,000 7. $35.44 B 17. 28. Portugal 10,825,000 $289.8 B 18 29 Copyright @ MoGraw Hill Education Pe Saudi Arabia 27,752,000 $1.68 T 19 30 United States 321,369,000 10. $17.97 T 20 31NAME DATE CLASS Math Practice for Economics cont. networks Computing Per Capita Gross Domestic Product (GDP) Questions: Directions: Use the table completed on the previous page to answer the following questions. 1. Which three countries listed have the highest GDP? 2. Which country has the highest per capita GDP? 3. Which three countries have the lowest GDP? 4. Which country has the lowest per capita GDP? Directions: The table below provides the life expectancy in years for all the countries listed in the first table. Use this data to compare life expectancy with GDP per capita. Afghanistan 44 Cambodia 62 China 73 Ecuador 75 France 80 Gabon 53 India 69 Japan 82 Madagascar 62 Portugal 78 Saudi Arabia 76 United States 78 5. Which four countries have the shortest life expectancy? Looking at the GDP per capita for these Copyright @ Me Graw-Hill Education. Permission is granted to reproduce bor classcan ine countries, what might you conclude about the relationship between a short life expectancy and GDP per capita? 6. Which four countries have the longest life expectancy? How does this relate to their GDP per capita? 2