What would be the net change in real gdp per person

Reference no: EM13233698

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 44 years following 2006 the share of the population that is working returns to its 1960 level, while average labor productivity increases by as much as it did during 1960-2006. Under this scenario, what would be the net change in real GDP per person between 2006 and 2052? The following data will be useful:

Average labor productivity Share of population employed
1960 $48,216 36.4%
2006 $88,204 48.1%

Reference no: EM13233698

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