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12 March, 02:51

If 50 percent of the population in a country is employed and average labor productivity equals $30,000, then real GDP per person equals:A. $15,000. B. $30,000. C. $50,000. D. $60,000.

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  1. 12 March, 03:12
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    The correct option is A. $15,000

    Explanation:

    For computing the real GDP per person, the following formula should be used which is shown below

    = Average labor productivity * share of population employees

    where,

    Average labor productivity is $30,000

    And, the share of population employees is 50%

    Now put these values to the above formula

    So, the answer would be equal to

    = $30,000 * 50%

    = $15,000

    Hence, real GDP per person is $15,000

    Therefore, the correct option is A. $15,000
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