Consider a Small Economy with 2500 Employed Workers Who Worked

question 67

Multiple Choice

Consider a small economy with 2500 employed workers who worked a total of 5 million hours at an average wage of $40 per hour.Which of the following is the best measure of labour productivity in this economy?

• A)real GDP per hour worked = $40
• B)real GDP per employed worker = $80 000
• C)real GDP per hour worked = $80
• D)real GDP per employed worker = $125 000
• E)Not able to determine from the information provided

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Definitions:

Partnership Assets

Properties or resources owned by a partnership that are used for the purpose of carrying on the partnership business.

Successor's Liability

The legal responsibility of a successor entity to bear the liabilities of its predecessor under certain conditions.

Predecessor's Obligations

Legal duties or liabilities that a previous holder or owner of a position or property owes, which may be transferred to the successor.

Continuation

In patent law, a type of application that proposes a continuation of the examination process for an existing application, providing additional claims without affecting the original filing date.