In 2022, 60 percent of the adult population (260 million) was employed. If the employment rate decreased to 56 percent,Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number.a. How many fewer people would have been working?millionb. By how much would total output have changed if per worker GDP were $140,000?Output would decreaseby $billion.

a. It is given that 60% of the adult population (260 million) was employed and 56% of employment…

Answered: In 2022, 60 percent of the adult…

Economics (MindTap Course List)

13th Edition

ISBN:9781337617383

Author:Roger A. Arnold

Publisher:Roger A. Arnold

Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp

Section: Chapter Questions

Problem 9WNG

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In 2020, only 57 percent of the adult population (260 million) was employed. If the employment rate increased to a typical nonrecession level of 61 percent, Instructions: In Part a, round your response to one decimal place. In Part b, enter your response as a whole number. a. how many more people would be working? million b. by how much would output increase if GDP per worker was $100,000? GA $ billion
In 2015, approximately 59 percent of the adult population (250 million) was employed, among the lowest employment rates in 20 years. If the employment rate increased to the prerecession level of 62 percent, a. How many more people would be working? million b. By how much would output increase if GDP per worker was $100,000? billion
Answer the attached question
a. If the GDP deflator is 125 in a country whose real GDP is calculated as 400 billion TL in 2019, what is its nominal GDP? b. If the economy in option a grew by 10% in 2020, what is the real GDP in 2020?
Macmillan Learning Suppose that the GDP of California increases by 12% each year. How long will it take for the GDP of California to double? Round your answer to one digit after the decimal. duration for California's GDP to double: Suppose that the GDP of Oregon today is exactly twice what it was 22 years ago. What was the average annual growth for Oregon over this time period? Round your answer to one digit after the decimal. average annual growth for Oregon: years % each year
C I G NX Price Yr1 1000 156 560 52 4 Yr2 1300 159 600 52 5 Yr3 2000 169 690 53 6 Yr4 2900 180 880 53 7 -What will the percent rate of change in real GDP be from year 1 to year 2, from year 2 to year 3, and from year 3 to year 4. (round to the whole number for all calculations and final answers) -State how long it will take for real GDP to double in size.
Suppose that the real GDP of a country was $90 billion in the first quarter of 2021 and $100 billion in the second quarter of 2021, the BEA reported that the U.S. economy grew % when annualized?
The following information is given for an economy: Labor Force of an Economy Number of People (millions) Total population 46.5 Children under the age of 16 8.5 Retirees 7.8 Employed 23.9 Unemployed 2.5 Not actively seeking employment 3.0 Homemakers 0.8 Instructions: Round your answers to one decimal place.…
Suppose that work hours in New Zombie are 300 in year 1 and productivity is $12 per hour worked Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is New Zombie's real GDP? b. If work hours increase to 320 in year 2 and productivity rises to $14 per hour, what is New Zomble's rate of economic growth? percent Check my work
Suppose that work hours in New Zombie are 300 in year 1, and productivity is $10 per hour worked. Instructions: In part a, enter your answer as a whole number. In part b, round your answer to 2 decimal places. a. What is New Zombie's real GDP? 2$ b. If work hours increase to 320 in year 2 and productivity rises to $12 per hour, what is New Zombie's rate of economic growth? percent
Real GDP in 2015 was SAR 12,247 billion. It was SAR13,206 billion in 2018. The population of Saudi Arabia increased from 22.9 million to 25.4 million over this time. a. Determine the actual GDP per person for 2015 and 2018. How much did output per individual increase throughout this time, on average? b. What would real GDP have been in 2018 if real GDP had increased by 3% year from -2015 to 2018?
Just the asnwer is fine! Thanks

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