Question

In symbolic terms where Y equals real GDP, POP equals total population, and N equals the number of employed workers, Y/POP must equal ________.

Answer 1

Answer:

a. Y/N×N/POP.

Explanation:

Given that

Y = Real GDP

POP = Total population

N = Number of employed workers

By considering the above information, we have to find out the real GDP per person or real GDP per capita which equal to

Real GDP per person = (Real GDP) ÷ (Total population)

We simply divide the real GDP by the total population so that real GDP per capita could arrive.