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:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter5: National Income Accounting

Section: Chapter Questions

Problem 5E

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