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If the Average Worker's Productivity Is $20 of Output Per

question 39

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If the average worker's productivity is $20 of output per hour and the labor force is employed for 500 billion hours,GDP is equal to


Definitions:

Money Market

A section of the financial market where short-term financial assets with high liquidity are traded.

Interest Rate

The amount charged by lenders as a percentage of the principal, or the amount earned on deposits over a specified period.

Equilibrium Value

The point at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.

Opportunity Cost

Whatever must be given up to obtain some item.

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