Suppose That Real GDP in an Economy Is $750 000

question 44

Multiple Choice

Suppose that real GDP in an economy is $750 000 and real GDP per worker is $250. If the employment rate in this economy is 80 percent, then there are

• A)600 000 people in the labour force in this economy.
• B)150 000 people in the labour force in this economy.
• C)3000 people in the labour force in this economy.
• D)33 000 people in the labour force in this economy.
• E)3750 people in the labour force in this economy.

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Definitions:

Procurement

The process of finding and acquiring goods, services, or works from an external source, often via a tendering or competitive bidding process.

Demand Uncertainty

This refers to the unpredictability of customer demand for products and services, affecting inventory, production, and distribution planning in supply chains.

Supplier's Demand

The quantity of materials or products required by a supplier from upstream suppliers to meet customer orders or production schedules.

Outsourcing

Outsourcing is the business practice of hiring a party outside a company to perform services or create goods that traditionally were performed in-house by the company's own employees.