In 2022, 60 percent of the adult population (260 million) was employed. If the employment rate decreased to 56 percent, Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number. a. How many fewer people would have been working? million b. By how much would total output have changed if per worker GDP were $140,000? Output would decrease by $ billion.
In 2022, 60 percent of the adult population (260 million) was employed. If the employment rate decreased to 56 percent, Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number. a. How many fewer people would have been working? million b. By how much would total output have changed if per worker GDP were $140,000? Output would decrease by $ billion.
Chapter7: Macroeconomic Measurements, Part Ii: Gdp And Real Gdp
Section: Chapter Questions
Problem 9WNG
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Transcribed Image Text:In 2022, 60 percent of the adult population (260 million) was employed. If the employment rate decreased to 56 percent,
Instructions: In part a, round your response to one decimal place. In part b, enter your response as a whole number.
a. How many fewer people would have been working?
million
b. By how much would total output have changed if per worker GDP were $140,000?
Output would decrease
by $
billion.
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