Can you please answer the questions 3 and 4. 3. Refer to the table below for an imaginary economy ofFlowerland.Year Real GDPPopulation201560 million45 million201670 million50 millionBased on the information given in the table calculate;• Real GDP Per Person (or capita)• Percentage increase in the real GDP per person over thetime period given and analyze.4. In an imaginary economy of Cotton Land, 190,000 tons ofcotton were produced in a day. The number of people who wereinvolved in this production was 4500 and each of them workedfor 8 hours. Further, there are 50 companies that employedthese people in their processing plants. Calculate theproductivity of this economy.

Hi Student, as per the guideline, we are providing answer for the first question (3rd question).…

3. Refer to the table below for an imaginary economy of Flowerland. Year Real GDP Population 2015 60 million 45 million 2016 70 million 50 million Based on the information given in the table calculate; • Real GDP Per Person (or capita) • Percentage increase in the real GDP per person over the time period given and analyze.

3. Refer to the table below for an imaginary economy of Flowerland. Year Real GDP Population 2015 60 million 45 million 2016 70 million 50 million Based on the information given in the table calculate; • Real GDP Per Person (or capita) • Percentage increase in the real GDP per person over the time period given and analyze.

Exploring Economics

8th Edition

ISBN:9781544336329

Author:Robert L. Sexton

Publisher:Robert L. Sexton

Chapter19: Measuring Economic Performance

Section: Chapter Questions

Problem 11P

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