Author Question: Suppose that output in an economy is 1,000 units and the number of hours worked in the economy is ... (Read 69 times)

cnetterville · **on:** Apr 19, 2019

Question 1

Suppose that output in an economy is 1,000 units and the number of hours worked in the economy is 40. What is the value of labor productivity?

◦ 0.04 units per worker hour.
◦ 25 units per worker hour
◦ 125 units per worker hour.
◦ 1,000 units per worker hour.

Question 2

Suppose that output in an economy is 1,000 units and the number of hours worked in the economy is 40. If the economy enters an expansion, which of the following combinations of output and hours worked would best reflect the expansion?

◦ 1,000 units of output and 40 hours worked
◦ 1,200 units of output and 50 hours worked
◦ 1,600 units of output and 60 hours worked
◦ 1,800 units of output and 75 hours worked

essyface1 · **Reply #1 on:** Apr 19, 2019

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