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(x) (5 points) Consider the following data on USA and Argentina GDP per capita in their respective local currencies. Table 2: Question 1x GDP pc
(x) (5 points) Consider the following data on USA and Argentina GDP per capita in their respective local currencies. Table 2: Question 1x GDP pc (local currency USA 58,500 USD Argentina 218,000 ARS 1 US dollar was equal to 9 Argentinian Pesos (ARS) in the foreign exchange market. Further, overall prices in Argentina were 70% of the US. Calculate Argentina's relative real GDP per capita to the US. Nominal GDP in USD= 24222.22 Real GDP in USD= 34603.17 Relative Real GDP in USD =0.59
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