Canada's population is 31 million and Japan's population is 126 million.Labor productivity in the two nations is the same.Hence, real GDP per person is ________ and real GDP is ________.

Question

Quizplus · Accepted Answer

Since labor productivity is the same in both countries, real GDP per person would be the same. However, since Japan's population is much larger, their real GDP (total output) would be larger. Therefore, the answer is that real GDP per person is the same in Japan and Canada, but real GDP is larger in Japan.

Canada's Population Is 31 Million and Japan's Population Is 126