Question

In both Gamma and Delta average labor productivity is $20,000 per worker per year. The population...

In both Gamma and Delta average labor productivity is $20,000 per worker per year. The population of Gamma is 200,000 and the population of Delta is 400,000. Sixty percent of the population in each country is employed. Total output in Gamma is _____ and total output in Delta is _____.

Multiple Choice

  • $8 billion; $4 billion

  • $2.4 billion; $4.8 billion

  • $4 billion; $8 billion

  • $120,000; $800,000

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Answer #1

Total Output = Labour productivity * Number of labours (people who are employed)

Average labour productivity = $20,000 per worker

Total population of gamma = 2,00,000 , Total population of delta = 4,00,000

Given, 60% of the population in each country is employed.

Population of gamma employed = 60/100 * 2,00,000 = 1,20,000

Population of delta employed = 60/100 * 4,00,000 = 2,40,000

Total Output in gamma = $20,000 * 1,20,000 = $2.4 billion

Total Output in delta = $20,000 * 2,40,000 = $4.8 billion

Hence, the correct answer is second option i.e. $2.4 billion, $4.8 billion.

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