Adding Together the Growth Rate of Labor Input and the Growth

question 84

Multiple Choice

Adding together the growth rate of labor input and the growth rate of labor productivity yields the growth rate of

• A)nominal GDP.
• B)actual GDP.
• C)potential GDP.
• D)final GDP.

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Definitions:

Small Businesses

Enterprises characterized by smaller sizes in terms of employees and revenues, playing a crucial role in economic development and innovation.

SBA Programs

Initiatives and services offered by the Small Business Administration to support and assist small business development and growth in the United States.

Set-Aside Program

Component of a government contract specifying that certain government contracts (or portions of those contracts) are restricted to small businesses and/or to women- or minority-owned companies.

Government Contracts

are agreements entered between companies and government entities for the provision of goods and services.