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GDP and Population

GDP and Population. Bench Mob Econ. The rate at which population grows influences GDP & economic growth For an economy to grow, its factors of production must grow or become more productive Labor is closely tied to population. Changes in population can distort GDP & GNP

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GDP and Population

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  1. GDPandPopulation Bench Mob Econ

  2. The rate at which population grows influences GDP & economic growth • For an economy to grow, its factors of production must grow or become more productive • Labor is closely tied to population

  3. Changes in population can distort GDP & GNP • This is why they are expressed per capita (person) • If a nation’s population grows faster than its’ output, per capita falls • If population grows slowly, there may not be enough workers to sustain economic growth

  4. Population in the US • Every 10 yrs the govt to takes a census- official count of all people, including their place of residence • The household is the primary survey unit • Forms are distributed & the Census Bureau presents the info

  5. One classification denotes the size of the urban population- people living in towns w/ 2500 or more people • The rural population makes up the remainder • Another indicator of distribution shifts is the center of population- point where the country would balance if laid flat & all people weighed the same

  6. Projected Population Trends • Businesses use census data to determine where to market products & sales territories • Demographers claim the 3 most important factors affecting population are fertility, life expectancy, & net immigration levels • Age & gender also play a role • The aging baby boomer generation (1946-64) are a large population

  7. Baby boomers will reach retirement years & want their pensions, Social Security, & medicare • This will place a burden on the young working population • Population pyramids show women outliving men and minorities surpassing whites in population

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