Instructions: If Z is the ratio of X to Y, the rate of growth of Z equals the rate of growth of X minus the rate of growth of Y:
Instructions:
If Z is the ratio of X to Y, the rate of growth of Z equals the rate of growth of X minus the rate of growth of Y:
Z=X/Y
(ΔZ/Z) = (ΔX/X)−(ΔY/Y)
If Z equals the product of X and Y, then the rate of growth of Z equals the sum of the two growth rates:
Z=X×Y
(ΔZ/Z) = (ΔX/X)+(ΔY/Y)
1.In a country, the labor-force participation rate is 75%, unemployment rate is 10%, and the average labor productivity is 100,000 units. In this country the real GDP per capita equals _____units.
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