Question

"Now let’s look at the productivity of the world’s least

productive 80%.
a. How much GDP do they produce? (Hint: You’ve already
calculated this number in the previous question.)
b. What is the avrage"

Answer 1

To calculate the GDP produced by the least productive 80%, divide the total number of workers in that group by their productivity level and multiply it by the average GDP per worker. The average productivity would be $5,000 per worker.

Step-by-step explanation:

To calculate the GDP produced by the world's least productive 80%, you need to refer to the information provided in the previous question. The productivity of the countries is expressed in terms of how many workers it takes to produce a unit of a product. You can calculate the GDP by dividing the total number of workers in the least productive 80% by their productivity level and multiplying it by the average GDP per worker.

For example, if the total number of workers in the least productive 80% is 100 and their productivity is 2 units per worker, and the average GDP per worker is $10,000, then the GDP produced by the least productive 80% would be:

GDP = (100 workers / 2 units per worker) * $10,000 = $500,000.

To calculate the average productivity of the world's least productive 80%, you need to divide the total GDP produced by them by their total number of workers. Using the example above, the average productivity would be $500,000 / 100 workers = $5,000 per worker.