The fictitious country Alpha has a population of 20 million people,
The fictitious country Alpha has a population of 20 million people, of which 12 million are counted as workers. The value of Alpha's output in the year 2017 was $180 billion.
a. The value for Alpha's output per capita in 2017 is $
b. The value for Alpha's average labor productivity in 2017 is $
Homework Answers
Output per capita = Output / Population
Average labor productivity = Output / Workers
a) Alpha's output per capita in 2017 = $180 billion / 20 million
= $180,000 million / 20 million
= $9000
b) Alpha's average labor productivity in 2017 = $180 billion / 12 million
= $180,000 million / 12 million
= $15000
SOLUTION :
a.
Per capita output in 2017 of Alpha
= Total output in 2017 / Population in 2017
= 180 billion dollars / 20 million
= 180000 million dollars / 20 million
= 9000 ($) (ANSWER).
b.
Average labour productivity in 2017 of Alpha
= Total output in 2017 / Number of workers in 2017
= 180 billion dollars / 12 million
= 180000 million dollars / 12 million
= 15000 ($) (ANSWER).
The fictitious country Alpha has a population of 24 million people
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2 Questions
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