Consider a Small Economy with Real GDP of $1 Billion

question 31

Multiple Choice

Consider a small economy with real GDP of $1 billion and the total number of hours worked equal to 5 million.Which of the following is the best measure of labour productivity in this economy?

• A)real GDP per hour worked = $20
• B)real GDP per employed worker = $20
• C)real GDP per hour worked = $200
• D)real GDP per employed worker = $200
• E)Not able to determine from the information provided

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Amounts of money transferred from one party to another as fulfillment of financial or contractual obligations.

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Interest on an investment that is calculated once a year on the principle plus any previously earned interest.

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