IN 2 010, approximately 62 percent of the adult population (240 million) was employed. If the employment rate increased tO 6 4 percent, ( a ) How many more people would be working? ( b ) By how much would output increase if per worker GDP is $100,000?

Essentials of Economics 8th Edition by Bradley Schiller

Edition 8ISBN: 978-0073511399

Essentials of Economics 8th Edition by Bradley Schiller

Edition 8ISBN: 978-0073511399

Exercise 2

IN₂ 010, approximately 62 percent of the adult population (240 million) was employed. If the employment rate increased tO₆ 4 percent,
( a ) How many more people would be working?
( b ) By how much would output increase if per worker GDP is $100,000?

Explanation

Verified

Given: In
, approximately
percent o...