The GDP of Neonland Is 450,000 Neons

question 93

Essay

The GDP of Neonland is 450,000 neons.It has a total population of 1,500; 30 percent of the total population in Neonland comprises retired workers,50 percent of the population is employed,and the remaining are unemployed children.
a)Calculate the income per capita in Neonland.
b)What is the income per worker in Neonland?
c)Is there a difference between the two measures? If yes,explain the reason for this difference.

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Definitions:

Restrictive Indorsement

A limitation specified on the face of a check or document that restricts the further transfer of its title or requires certain conditions to be met.

Trust

A fiduciary relationship in which one party, known as a trustee, holds title to property for the benefit of another party, known as a beneficiary.

Pay to

Directs the transfer of money or assets to a specified person, entity, or account as outlined in a financial or legal document.

Real Defenses

Legal defenses that can be used to challenge the enforceability of a negotiable instrument, such as fraud, duress, or alteration.