Problem 33

Introduction

The worth of a country's currency in relation to the currencies of other countries and economic zone is known as an exchange rate. Most currency values are free-floating, meaning they increase or fall in response to market supply and demand.

Given:

The Czech Republic has a GDP of 1,800 billion koruny.

The exchange rate is 25 koruny/U.S. dollar.

The Czech population is 20 million.

To find: GDP per capita of the Czech Republic expressed in U.S. dollars.