Question: Lets see how GDP per person can be affected by changes in the fraction of citizens who work. This fraction is better known as the

Let’s see how GDP per person can be affected by changes in the fraction of citizens who work. This fraction is better known as the employment–population ratio. To keep things simple, let’s assume that every employed worker produces $50,000 worth of output. If the employment–population ratio is 50%, what is GDP per person? If the employment–population ratio rises to 55%, what is GDP per person?

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