If real GDP per person in a country equals $40,000 and 60 percent of the population...

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Question

If real GDP per person in a country equals $40,000 and 60 percent of the population...

If real GDP per person in a country equals $40,000 and 60 percent of the population is employed, then average labor productivity equals:

Multiple Choice

$66,667.
$60,000.
$24,000.
$40,000.

business economics

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Answer 1

Answer #1

Answer

Option 1

Average productivity =real GDP per person/portion of the population employed

=40000/.6

=66666.6667

=66667

the average labor productivity equals $66667

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Answer 2

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