What would be the net change in real gdp

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Reference no: EM13180582

The "graying of America" will substantially increase the fraction of the population that is retired in the decades to come. To illustrate the implications for U.S. living standards, suppose that over the 49 years following 2009 the share of the population that is working returns to its 1960 level, while average labor productivity increases at the same rate as it did during 1960-2009. Under this scenario, what would be the net change in real GDP per person between 2009 and 2058?

1960 2009

Average labor productivity 45,438 99,763

share of population employed 37.8 46

Net change in Real GDP per person between 2009 and 2058 is? $_________

Reference no: EM13180582

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