The following table shows the nominal GDP (in 2017 US dollars) and the population of Turkey in 2017 and 2018. Based on this information, which of the following statements is correc... The following table shows the nominal GDP (in 2017 US dollars) and the population of Turkey in 2017 and 2018. Based on this information, which of the following statements is correct? Select one correct answer.
Understand the Problem
The question is asking to analyze the provided GDP and population data for Turkey in 2017 and 2018 and determine which of the given statements regarding the data is correct. This involves performing calculations to verify each statement based on the provided figures.
Answer
The GDP per capita fell by 10.7% between 2017 and 2018.
Answer for screen readers
The correct answer is b. The GDP per capita fell by 10.7% between 2017 and 2018.
Steps to Solve
- Calculate GDP per capita for 2018
To find the GDP per capita for 2018, use the formula:
[ \text{GDP per capita} = \frac{\text{GDP}}{\text{Population}} ]
Substituting the values:
[ \text{GDP per capita} = \frac{778,400,000,000}{82,340,000} \approx 9,448.83 ]
- Calculate the percentage change in GDP per capita from 2017 to 2018
First find GDP per capita for 2017:
[ \text{GDP per capita (2017)} = \frac{859,000,000,000}{81,120,000} \approx 10,600.49 ]
Now calculate the change:
[ \text{Change} = \text{GDP per capita (2018)} - \text{GDP per capita (2017)} \approx 9,448.83 - 10,600.49 = -1,151.66 ]
Next, calculate the percentage decrease:
[ \text{Percentage decrease} = \frac{-1,151.66}{10,600.49} \times 100 \approx -10.86% ]
- Calculate population growth from 2017 to 2018
To find the percentage growth of the population:
[ \text{Population growth} = \frac{\text{Population in 2018} - \text{Population in 2017}}{\text{Population in 2017}} \times 100 ]
Substituting the values:
[ \text{Population growth} = \frac{82,340,000 - 81,120,000}{81,120,000} \times 100 \approx 1.50% ]
- Calculate the percentage change in GDP from 2017 to 2018
To find the percentage change in GDP:
[ \text{Percentage change in GDP} = \frac{\text{GDP in 2018} - \text{GDP in 2017}}{\text{GDP in 2017}} \times 100 ]
Substituting the values:
[ \text{Percentage change in GDP} = \frac{778,400,000,000 - 859,000,000,000}{859,000,000,000} \times 100 \approx -9.38% ]
The correct answer is b. The GDP per capita fell by 10.7% between 2017 and 2018.
More Information
In 2018, Turkey's GDP per capita is approximately $9,448.83, which shows a significant decrease from $10,600.49 in 2017. This indicates economic challenges faced during this period.
Tips
- Miscalculating the GDP per capita by either forgetting to divide the GDP by the population or using incorrect years of data.
- Not correctly calculating the percentage change—make sure to use the accurate formula for percent change.
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