If the Number of Worker-Hours in an Economy Is 100

question 7

Multiple Choice

If the number of worker-hours in an economy is 100 and its labour productivity is 5 units of output per worker-hour, the economy's real GDP:

• A)is $20.
• B)is $500.
• C)is $5000.
• D)cannot be calculated.

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Definitions:

Research Methods

Various strategies, techniques, and procedures used to investigate specific questions and test hypotheses in scientific studies.

Hypothesis Testing

A method in scientific research where an hypothesis is proposed and then tested through experimentation or observation to determine its validity.

Applied Research

A type of research intended to solve practical problems by applying scientific principles and theories.

Accuracy

The degree to which the result of a measurement, calculation, or specification conforms to the correct value or a standard.