If Real GDP Is $13,000 Billion and Aggregate Hours Are

question 86

Multiple Choice

If real GDP is $13,000 billion and aggregate hours are 270 billion, labor productivity equals

• A) $650 per hour.
• B) $6.50 per hour.
• C) $48 per hour.
• D) $45 per hour.

---

Definitions:

Food Supply

The total amount of food available for consumption, affected by factors such as production, distribution, and importation.

Population Growth

The increase in the number of individuals in a population, often measured in terms of the percentage change per year.

LDCs

Stands for Least Developed Countries, a term used to describe countries with the lowest indicators of socioeconomic development.

Northern Europe

A geographic and cultural region in Europe, typically referring to the northern territories including countries such as Norway, Denmark, Sweden, Finland, and Iceland.