Consider a Small Economy Where Factor Supply Is 1000 Units

question 38

Multiple Choice

Consider a small economy where factor supply is 1000 units, the factor utilization rate is 0.9 and a simple measure of productivity (GDP per factor employed) is $80. This economy's GDP is

• A)$72 000
• B)$7200
• C)$88 888
• D)$90 000
• E)$80 000

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