In 2011, the fictional nation of Maconia had a population of 8,200 and a real GDP of $210,500. Maconia experienced a 5% growth in real GDP per capita. In 2012, the population reached 8,400. To the nearest dollar, what was the real GDP in Maconia in 2012? a. $226,416 b. $216,815 c. $221,025 d. None of the above.

Correct Answer is a. $226,416 .

To calculate the real GDP for Maconia in 2012, we first need to determine the real GDP per capita for 2011. We can find this by dividing the total real GDP by the population.

Real GDP per capita in 2011 = Total Real GDP in 2011 / Population in 2011 Real GDP per capita in 2011 = $210,500 / 8,200 Real GDP per capita in 2011 = $25.67 (rounded to two decimal places)

Maconia experienced a 5% growth in real GDP per capita, so we need to increase the 2011 real GDP per capita by 5% to find the value for 2012.

Real GDP per capita in 2012 = Real GDP per capita in 2011 * (1 + Growth rate) Real GDP per capita in 2012 = $25.67 * (1 + 0.05) Real GDP per capita in 2012 = $25.67 * 1.05 Real GDP per capita in 2012 = $26.95 (rounded to two decimal places)

Now, we can calculate the total real GDP for 2012 by multiplying the real GDP per capita by the population in 2012.

Total real GDP in 2012 = Real GDP per capita in 2012 * Population in 2012 Total real GDP in 2012 = $26.95 * 8,400 Total real GDP in 2012 = $226,380 (rounded to the nearest dollar)

So, the real GDP in Maconia in 2012 was $226,380, which is closest to option a. $226,416. However, since we rounded the per capita GDP to two decimal places, this result might slightly differ if the original per capita GDP were not rounded, but the closest answer given the options would still be a. $226,416.