The value of production in an economy is $19,441 billion. The economy has 327.77 million people....
The value of production in an economy is $19,441 billion. The economy has 327.77 million people. What is the value of production per person? Hint: notice the units are different. Enter a whole number.
Homework Answers
For the purpose of simplicity, we must covert both this figures in some common unit.
Let us convert these figures into Thousands.
$19441 Billion= 19441000000 thousands
327.77 Million= 327770 thousands
The value of production per person=Total Production/Total Population
=19441000000/327770
=$59,312.93
So, the production per person is $ 59,313
Add Answer to:
The value of production in an economy is $19,441 billion. The
economy has 327.77 million people....
In 1988 the value of RGDP was $8,463.91 billion, the population was 248.68 million, and the...
In 1988 the value of RGDP was $8,463.91 billion, the population was 248.68 million, and the number of people employed was 118,429.30 measured in thousands. What was the value of real GDP per capita? Round to the nearest whole number.
An economy has the following data: real GDP $5,086 billion taxes collected by the government $481...
An economy has the following data: real GDP $5,086 billion taxes collected by the government $481 billion government spending $650 billion consumption spending $3,641 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion. Which of the following would give households an incentive to increase the amount of money they save each month? O People are feeling wealthier due to...
An economy has the following data: real GDP $5,120 billion taxes collected by the government $496...
An economy has the following data: real GDP $5,120 billion taxes collected by the government $496 billion government spending $685 billion consumption spending $3,763 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion.
An economy has the following data: real GDP $5,177 billion taxes collected by the government $481...
An economy has the following data: real GDP $5,177 billion taxes collected by the government $481 billion government spending $077 billion consumption spending $3,754 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion.
Suppose the economy has a population of 40 million people and a labor force participation rate...
Suppose the economy has a population of 40 million people and a labor force participation rate of 50%. Furthermore, suppose the natural rate of unemployment in the economy is 7%. If the current number of unemployed people is 3 million people, what is the rate of cyclical unemployment rate? Answer: % Your Answer:
A closed economy has income of $1,200 billion, government spending of $220 billion, taxes of $170...
A closed economy has income of $1,200 billion, government spending of $220 billion, taxes of $170 billion, and investment spending of $250 billion. Consumption spending is $ billion. Private saving is $ billion. Public saving is $ billion. National saving is $ billion. Enter whole numbers.
1. The economy has 8 million units of capital and 8 million units of labor. The...
1. The economy has 8 million units of capital and 8 million units of labor. The production function is and A = 1. The consumption function is: C = 1.5 million + 0.75 (Y-T) Investment demand is: I = 3 million – 0.2 million x (r%) Taxes (T) are 2 million. Government purchases (G) are 1 million. Given this information, answer the following questions: a. What it total output (Y) in this economy equal to? b. What is disposable income...
In an economy, there are 61 million of employed people, 4 million of unemployed people, and...
In an economy, there are 61 million of employed people, 4 million of unemployed people, and the population is 109 million. What is the unemployment rate? Express your answer as percentages rounded to 2 decimals if necessary (i.e. 23.567% should be written as 23.57)
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 $
The fictitious country Alpha has a population of 24 million people
The fictitious country Alpha has a population of 24 million people, of which 15 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 _______
An economy has the following data: real GDP $5,086 billion taxes collected by the government $481 billion government spending $650 billion consumption spending $3,641 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion. Which of the following would give households an incentive to increase the amount of money they save each month? O People are feeling wealthier due to...
An economy has the following data: real GDP $5,120 billion taxes collected by the government $496 billion government spending $685 billion consumption spending $3,763 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion.
An economy has the following data: real GDP $5,177 billion taxes collected by the government $481 billion government spending $077 billion consumption spending $3,754 billion. If this is a closed economy, what is the value of investment spending? Enter a whole number with no dollar sign and please do not include the word billion.
Suppose the economy has a population of 40 million people and a labor force participation rate of 50%. Furthermore, suppose the natural rate of unemployment in the economy is 7%. If the current number of unemployed people is 3 million people, what is the rate of cyclical unemployment rate? Answer: % Your Answer:
A closed economy has income of $1,200 billion, government spending of $220 billion, taxes of $170 billion, and investment spending of $250 billion. Consumption spending is $ billion. Private saving is $ billion. Public saving is $ billion. National saving is $ billion. Enter whole numbers.
Most questions answered within 3 hours.
-
Where is the error in this code sequence?
String s1 = "Hello";
String s2 = "ello";...
asked 11 months ago -
Financial data for Joel de Paris, Inc., for last year
follow:
Joel de Paris, Inc.
Balance...
asked 11 months ago -
Consider this reaction:
Al2(SO4)3 (aq)+ BaCl3
(aq) Al2Cl6 (aq)- +
3BaSO4(s) . What is the...
asked 11 months ago -
Suppose that Savneet is considering increasing her
recent random sample from 20 car rentals to 40...
asked 11 months ago -
Trucks arrive at an unloading terminal at an average rate of 120
per hour.
Trucks arrive...
asked 11 months ago -
Why are methanol and ethanol completely soluble in water while
octanol is not very little soluble....
asked 11 months ago -
A facilities manager at a university reads in a research report
that the mean amount of...
asked 11 months ago -
When the CuSO4 is rehydrated by adding water to the anhydrous
compound, is this an endothermic...
asked 11 months ago -
A ray of sunlight is passing from diamond into crown glass; the
angle of incidence is...
asked 11 months ago -
A block of mass 0.249 kg is placed on top of a light, vertical
spring of...
asked 11 months ago -
how do the kidneys compensate in the presences of acidosis
a) trigger hyperventilate
b) reserve acid...
asked 11 months ago -
Question 501 pts
The rental rate of capital to the firm increases. Which of the
following...
asked 11 months ago