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What is the gdp per person

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Reference no: EM131832820

Question: Let's see how GDP per person can be affected by changes in the fraction of citizens who work. This fraction is better known as the employment-population ratio. To keep things simple, let's assume that every employed worker produces $50,000 worth of output. If the employment-population ratio is 50%, what is GDP per person? If the employment-population ratio rises to 55%, what is GDP per person?

Reference no: EM131832820

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