Consider a Small Economy with Real GDP of $1 Billion

question 37

Multiple Choice

Consider a small economy with real GDP of $1 billion and the number of workers employed equal to 2500.Which of the following is the best measure of labour productivity in this economy?

• A)real GDP per hour worked = $200
• B)real GDP per employed worker = $200 000
• C)real GDP per hour worked = $400
• D)real GDP per employed worker = $400 000
• E)Not able to determine from the information provided

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Definitions:

Procedural Unconscionability

Refers to a situation in contract law where the manner in which a contract was formed is unfair or oppressive, often due to unequal bargaining power or lack of choice.

Adhesion Conscionability

Adhesion conscionability examines whether a contract, typically a "take-it-or-leave-it" deal presented by the stronger party to the weaker, is so one-sided that it is unfair to the weaker party and therefore unenforceable.

Procedural Unconscionability

A legal principle referring to circumstances where the process involved in making a contract is deemed unfair or unjust, often due to a significant imbalance in power or information between the parties.

Substantive Unconscionability

A legal doctrine that allows courts to refuse to enforce a contract or part of it, if the contract is excessively unfair or oppressive.