Output in physical terms In monetary terms oranges 6 billion 6 billion oranges @
ID: 2496557 • Letter: O
Question
Output in physical terms In monetary terms
oranges 6 billion 6 billion oranges @20 cents each. $1.2 billion
Disposable razors 3 billion 3 billion razors @ 30 cents each 0.9 billion
video games 70 billion 70 million games @ $30 each 2.1 billion
Total. ..? Total $4.2 billion
The United States devotes 0.20% of its GDP to development assistance: a) How much money is that? B)If the aid shared doubled, how much more(than the value determined in part (a) would that be for each of the 3 billion "extremely poor " people in developing nations?
Explanation / Answer
a) Assuming this is the total GDP of US (i.e oranges, razors, video games) = $ 4.2 billion
0.2 % = 0.2 * 4.2 /100 = $ 0.0084 billion or $ 8.4 million...the aid
b) If the aid is doubled = 8.4 *2 = $ 16.8 million, so it would be additional $ 8.4 million for 3 billion extremely poor people in developing nations = additional $ 0.0028 per person..........(0.0084 billion / 3 billion)
So if the aid is doubled, total aid would be $ 16.8 million or to put it differently an additional $ 8.4 million.
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