Author Question: Labor productivity is 30 per hour and aggregate hours are 165 billion hours. What does real GDP ... (Read 101 times)

asd123

  • Hero Member
  • *****
  • Posts: 557
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

  • Sr. Member
  • ****
  • Posts: 332
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



Related Topics

Need homework help now?

Ask unlimited questions for free

Ask a Question


 

Did you know?

More than 34,000 trademarked medication names and more than 10,000 generic medication names are in use in the United States.

Did you know?

Historic treatments for rheumatoid arthritis have included gold salts, acupuncture, a diet consisting of apples or rhubarb, nutmeg, nettles, bee venom, bracelets made of copper, prayer, rest, tooth extractions, fasting, honey, vitamins, insulin, snow collected on Christmas, magnets, and electric convulsion therapy.

Did you know?

GI conditions that will keep you out of the U.S. armed services include ulcers, varices, fistulas, esophagitis, gastritis, congenital abnormalities, inflammatory bowel disease, enteritis, colitis, proctitis, duodenal diverticula, malabsorption syndromes, hepatitis, cirrhosis, cysts, abscesses, pancreatitis, polyps, certain hemorrhoids, splenomegaly, hernias, recent abdominal surgery, GI bypass or stomach stapling, and artificial GI openings.

Did you know?

Once thought to have neurofibromatosis, Joseph Merrick (also known as "the elephant man") is now, in retrospect, thought by clinical experts to have had Proteus syndrome. This endocrine disease causes continued and abnormal growth of the bones, muscles, skin, and so on and can become completely debilitating with severe deformities occurring anywhere on the body.

Did you know?

No drugs are available to relieve parathyroid disease. Parathyroid disease is caused by a parathyroid tumor, and it needs to be removed by surgery.

For a complete list of videos, visit our video library