We use terms like L/pop, Y/L, and Y/pop extensively in the course. Say that you're looking at data from a rich country much like the U. S. and we converted the values into U. S. dollars. Which of the following is the least likely to be seen? Group of answer choices1. Y/pop = $50,000 2. Y/L = $150,000 3. L/pop =.10

Question

Business

Kenzie Garrett

1 May, 08:58

We use terms like L/pop, Y/L, and Y/pop extensively in the course. Say that you're looking at data from a rich country much like the U. S. and we converted the values into U. S. dollars. Which of the following is the least likely to be seen? Group of answer choices1. Y/pop = $50,000 2. Y/L = $150,000 3. L/pop =.10

+2

Answers (1)

Know the Answer?

Melanie Grimes · Answer 1

The correct option is "C," L/pop =.10.

Explanation:

The least likely to be seen is L/pop =.10. because the under-listed computations show the two most important parameters of measuring the par Capita Income of GDP of a country such as USA.

Productivity growth is the main source of growth in per capita GDP

Given that : Real GDP = Y, Number of Workers = L, Population = POP

Y = (Y/L) L = > % change Y = % change Y/L + % change L

US 1960 to 2007 3.3% = 1.6% + 1.7%

Y/POP = (Y/L) (L/POP) = > % change Y/POP = %change Y/L + %change L/POP

US 1960 to 2007 2.2% = 1.6% + 0.6%