Author Question: If the nominal gross domestic product (GDP) for the year 2000 was 6.2 trillion and the price index ... (Read 80 times)

altibaby · **on:** Jun 30, 2018

If the nominal gross domestic product (GDP) for the year 2000 was 6.2 trillion and the price index was 200, the real gross domestic product (GDP) for 2000 was _____.
a. 3.1 trillion
b. 6.2 trillion
c. 12.4 trillion
d. 18.6 trillion
e. 24.3 trillion

Question 2

Marginal revenue product of labor measures the extra revenue generated to the firm from the employment of an additional worker.
a. True
b. False
Indicate whether the statement is true or false