Macroeconomics homework help

Economics
Tutor: None Selected Time limit: 1 Day

The “graying of America” will substantially increase the fraction of the population that is retired in the decades to come.  To illustrate the implications for U.S. living standards, suppose that over the 53 years following 2013 the share of the population that is working returns to its 1960 level, while average labor productivity increases at the same rate as it did during 1960–2013.  Under this scenario, what would be the net change in real GDP per person between 2013 and 2066?
Sep 30th, 2015

Thank you for the opportunity to help you with your question!

i would need more data to work out this problem.

. thank you. :)
Oct 2nd, 2015

I'm sorry i forgot to attach the extra info you need.

in 1960 the average labor productivity is 47,256 and the share of population employed is 36.4%

in 2013 the average labor productivity is 109,152 and the share of population employed is 45.5%

i need to figure out GDP per person in 2013 and 2066 and net change in real GDP per person between 2013 and 2066 and how much % it increased by.


thanks for your help

Oct 2nd, 2015

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Sep 30th, 2015
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