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Unformatted text preview: Brandy Shouse Bus 204_3_unit 5 October 26, 2010 1 See comments below Answers are very brief 5 points out of 5 for Correct APA format including correct file name 1 points out of 10 for thorough and accurate textbook definition of all terms 1 points out of 15 for Reasonably accurate explanations of most terms 5 points out of 5 for references and citations correct 3 points out of 35 for TOTAL GRADE of 85.71% Brandy Shouse Bus 204_3 Unit 5 Enrico DiGiammarino Jr October 26, 2010 Brandy Shouse Bus 204_3_unit 5 October 26, 2010 2 Name: Brandy Shouse Course: Bus 204 Section: 3 Unit: 5 Date: October 26, 2010 Define key terms GDP per Capita An approximation of the value of goods produced per person in the country, equal to the country's GDP divided by the total number of people in the country (Krugman, 2009) This is how they figure what to sell different products at in different countries. Not correct The dollar value of all the final goods and services produced in the country divided by the total population. If each person had an equal share of the output of the country, the GDP per Capita shows how much would be their share. It is a rough measure of the standard of living of the country. Labor productivity I did not see YOLUR definitions for this term The amount of output that each worker contributes. To measure overall labor productivity of the country, we take the GDP (total output of the economy) and divide it by the number of Brandy Shouse...
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This note was uploaded on 11/23/2010 for the course BUS 204 taught by Professor Enricodigiammarinojr during the Fall '10 term at Kaplan University.
 Fall '10
 EnricoDiGiammarinoJr
 Macroeconomics

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