Consider a Small Economy with Real GDP of $1 Billion

question 23

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 employed worker = $400 000
• B)real GDP per hour worked = $200
• C)real GDP per employed worker = $200 000
• D)real GDP per hour worked = $400
• E)indeterminable from the information provided

---

Definitions:

Outcome Simulation

The process of mentally visualizing the outcomes of specific behaviors or decisions as a way to anticipate and plan for future events.

Gestured Communication

The use of bodily movements, especially of the hands and arms, to express thoughts, emotions, or information without verbal speech.

Human Language

Human Language is a complex system of communication that involves the use of spoken, written, or gestural symbols to convey meaning, emotions, and thoughts.

Perceptual Set

A mental predisposition to perceive one thing and not another.