Answer may include GDP per worker represents the entire income generated per

Answer may include gdp per worker represents the

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Answer may include: GDP per worker represents the entire income generated per worker in an economy and includes profit margins and necessary investor returns on time and capital. 10. How might you explain the difference between the median and mean incomes per worker provided? What might this tell you about the distribution of income in the economy? Answer may include: When the mean is higher than the median by such a wide margin, in this case more than 10%, it suggests some unequal distribution of income weighted towards the upper end of the income spectrum. 11. Based on the data in the following graph and the information you’ve either been provided or calculated, what might you have to say about the nation’s efficient use of its labor resources?
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Answer may include: With a LFPR of 62.7% much of the available workforce is idle, causing the economy to operate inefficiently and well within it’s PPF. The long term decline in the LFPR since approximately 1997 suggests inward pressure on the PPF The unemployment rate at 5.6% is likewise above what might be expected for the “natural rate” and represents some inefficiency in labor market operations.
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  • Fall '19
  • Scott Schaefer

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