Author Question: Last year, in a nation far to the South, real GDP was 90 million and 900,000 workers were employed. ... (Read 102 times)

Mr.Thesaxman · **on:** Jun 30, 2018

Last year, in a nation far to the South, real GDP was 90 million and 900,000 workers were employed. This year real GDP is 100 million, 950,000 workers are employed, and the number of hours each worker works per year did not change.

Hence, labor productivity
A) has decreased.
B) has increased.
C) has remained constant.
D) cannot be compared between the two years because both real GDP and the number of workers increased.
E) might have changed, but more information is needed to determine if it changed.

Question 2

If you take out a bank loan prior to unanticipated inflation

A) your bank will gain at your expense.
B) you will gain at the expense of your bank.
C) it will be harder for you to repay the loan because of the inflated dollar.
D) neither you nor your bank will be affected, because the loan was made prior to the inflation.

Eazy416 · **Reply #1 on:** Jun 30, 2018

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