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How many more people would be working

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Reference no: EM131502502

Problem 1: 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?

b. By how much would output increase if GDP per worker was $100,000?

Show your work.

Problem 2

The World Bank projects that the world's population will increase from 7 billion today to 8 billion in 2025. World output today is roughly $80 trillion.

a. What is global per capita income today?

b. What will per capita income be in 2025 if the world's economy doesn't grow?

c. By what percentage must the world economy grow by 2025 to maintain current living standards?

Show your work.

Problem 3

According to the data in Figure 15.4 on p. 292, by what percent did world GDP per capita grow from

a. 1000 to 1500?

b. 1500 to 1820?

c. 1820 to 1995?

Show your work.

Reference no: EM131502502

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