The GDP in Italy is \( \$ 1.94 \) trillion. The rate of inflation is \( 2.5 \% \). If the population of Italy is \( 60,673,000 \), find the per capita GDP in this country. Real GDP \( = \) GDP - (GDP . Inflation Rate) Per Capita GDP - Roplint Per Capita GDP \( =\$[?] \) Round to the nearest cent

To find the per capita GDP in Italy, we first need to calculate the Real GDP by adjusting the nominal GDP for inflation. 1. Calculate the Real GDP: \[ \text{Real GDP} = \text{GDP} - (\text{GDP} \times \text{Inflation Rate}) \] \[ = 1.94 \text{ trillion} - (1.94 \text{ trillion} \times 0.025) \] \[ = 1.94 \text{ trillion} - 0.0485 \text{ trillion} \] \[ = 1.8915 \text{ trillion} \] 2. Now, to find the Per Capita GDP: \[ \text{Per Capita GDP} = \frac{\text{Real GDP}}{\text{Population}} \] \[ = \frac{1.8915 \text{ trillion}}{60,673,000} \] \[ \approx 31,143.45 \] So, the Per Capita GDP in Italy is approximately **\$31,143.45** when rounded to the nearest cent.