THE MINING SECTOR OF AN ECONOMY CONTRIBUTES 60% TO THE GROSS DOMESTIC PRODUCT. IF THE GDP IS $540, WHAT IS THE CONTRIBUTION OF THE MINING SECTOR
- A. $ 90.00
- B. $ 180.00
- C. $ 324.00 ✓
- D. $ 350.00
The answer to the question is: C. $ 324.00
To find the contribution of the mining sector to the Gross Domestic Product (GDP), we can use the following formula:
Contribution of mining sector = (Percentage contribution to GDP / 100) * GDP
Given that the mining sector contributes 60% to the GDP, and the GDP is $540, we can calculate the contribution of the mining sector as follows:
Contribution of mining sector = (60 / 100) * $540
= 0.60 * $540 = $324
Therefore, the contribution of the mining sector to the GDP is $324.
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