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Author Question: Labor productivity is 30 per hour and aggregate hours are 165 billion hours. What does real GDP ... (Read 121 times)

asd123

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on: Jun 29, 2018
Labor productivity is 30 per hour and aggregate hours are 165 billion hours. What does real GDP equal?
 
  What will be an ideal response?

Question 2

Consider the following situation. Tuition at State University is 10,000 per year. Each of the students listed below paid their own tuition bills. Who among them incurred the greatest sunk cost?
 
  A) The student who received a two-year associate's degree
  B) The student who took five years to complete the bachelor's degree
  C) The student who took ten years to complete the bachelor's, master's, and Ph.D. degrees
  D) The student who dropped out during their first semester
  E) The student who dropped out after their third year


thall411

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Reply #1 on: Jun 29, 2018
Answer to Question 1

Real GDP equals (labor productivity  aggregate hours) = (30 per hour  165 billion hours) = 4,950 billion.

Answer to Question 2

C


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asd123

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Reply #2 on: Jun 29, 2018
Thank you :)


thall411

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Reply #3 on: Jun 29, 2018
Happy to help you


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