Real GDP or Total Output in Any Year Is Equal

question 70

Multiple Choice

Real GDP or total output in any year is equal to:

• A)labour inputs divided by resource outputs.
• B)labour productivity multiplied by real output.
• C)worker-hours multiplied by labour productivity.
• D)worker-hours divided by labour productivity.

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Definitions:

Homogenizing Effects

The process by which diverse elements are made uniform or similar, often observed in cultures, markets, and technologies.

Dependency

A situation in which a person or group relies on another for support, often creating a power imbalance and vulnerability.

Colonialism

A practice or system in which a country asserts control over a foreign territory, exploiting it economically and often imposing its own cultural and political structures.

Globalization

Globalization is the process by which businesses, cultures, and societies become more interconnected and interdependent through international trade, communication, and technology.