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16 Jun 2018, 00:21
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D
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Question Stats:
70% (01:43) correct
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A particular nation’s GDP (Gross Domestic Product) is $4.5 billion. If the population of the nation is 1.75 million, what is the per capita (per person) GDP, rounded to the nearest dollar?
(A) $3
(B) $25
(C) $257
(D) $2,571
(E) $25,714
(A) $3
(B) $25
(C) $257
(D) $2,571
(E) $25,714
17 Jun 2018, 11:38
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Bunuel
ONLY powers of 10 (number of digits) separate the answers. No need for long division. Round to a multiple and a factor.
GDP = $4.5 = $5.1 billion = $5.1 * 10\(^9\)
Population = 1.75 = 1.7 million = 1.7*10\(^6\)
Per capita $GDP = National $GDP / Pop.
\(\frac{$5.1*10^9}{1.7*10^6}=($3*10^{(9-6)})=$3*10^3\approx$3,000\)
Answer D
If that rounding is too much, try fractions
National $GDP: $4.5 billion
\($4.5B=$4\frac{1}{2}B=\frac{$9}{2} * 10^9\)
Population: 1.75 million
\(1.75M=1\frac{3}{4}M=\frac{7}{4}* 10^6\)
Leave aside the powers of 10 for a bit. Per capita GDP = national $GDP / Population
First quotient value:
\(\frac{($\frac{9}{2})}{(\frac{7}{4})}=($\frac{9}{2}*\frac{4}{7})=\frac{$18}{7}\approx$2.5\)
Powers of 10: \(\frac{10^9}{10^6}=10^{(9-6)}=10^3\)
Per capita $GDP \(\approx$2.5*10^3=$2,500\)
Answer D
