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Chapter 19: Q. 32 (page 471)

In 1980, Denmark had a GDP of \(70 billion (measured in U.S. dollars) and a population of 5.1 million. In 2000, Denmark had a GDP of \)160 billion (measured in U.S. dollars) and a population of 5.3 million. By what percentage did Denmark鈥檚 GDP per capita rise between 1980 and 2000?

Short Answer

Expert verified

119.946%

Step by step solution

01

Step1. Introduction

GDP per capita income is the ratio of total GDP to the total population. It is on average, how much a person is earning.

02

Step2. Calculation

1980 Denmark-

GDP- 70 billion= 70000 million

Population- 5.1 million

GDP per capita income- $13725.4902/ person

2000 Denmark-

GDP- 160 billion= 160000 million

Population- 5.3 million

GDP per capita- $30188.6792/ person

Increased by-

30188.6792-13725.4902= 16463.189

Increase%-

16463.189/13725.4902 * 100

= 119.946%

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