Question
At the beginning of 2008, aggregate output in Neverland was $1200 billion and the population was 30 million.During 2008, aggregate output increased 2%.The population increased
At the beginning of 2008, aggregate output in Neverland was $1200 billion and the population was 30 million.During 2008, aggregate output increased 2%.The population increased 1.5%, and the aggregate price level remained constant.
(a)What was aggregate output per person in Neverland at the beginning of 2008?(10 points)
(b)What was aggregate output and population size in Neverland at the end of 2008?(10 points)
(c)What was aggregate output per person in Neverland at the end of 2008? (10 points)
(d)What was the annual growth rate of aggregate output per person in Neverland during 2008?(10 points)
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