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Author Question: Labor productivity equals A) the total production of labor. B) real GDP. C) real GDP divided by ... (Read 270 times)

serike

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on: Jun 30, 2018
Labor productivity equals
 
  A) the total production of labor.
  B) real GDP.
  C) real GDP divided by the amount of human capital.
  D) real GDP per hour of labor.
  E) the quantity of labor hours divided by real GDP.

Question 2

The base year is 2010. A country only produces MP3 players. The price of an MP3 player in 2008 was 50. The price of an MP3 player was 30 in 2010. The quantity of MP3 players produced in 2008 was 10,000 units and in 2010 was 20,000 units.
 
  Nominal GDP in 2010 equals
  A) 500,000.
  B) 200,000.
  C) 1,000,000.
  D) 600,000.
  E) an amount that cannot be determined without information about real GDP in 2010.


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LVPMS

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Reply #1 on: Jun 30, 2018
Answer to Question 1

D

Answer to Question 2

D


serike

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Reply #2 on: Jun 30, 2018
Thank you :)


LVPMS

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Reply #3 on: Jun 30, 2018
Happy to help you


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