Total Output for an Economy Is Basically Equal to Total

question 152

True/False

Total output for an economy is basically equal to total work-hours multiplied by labor productivity.

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Definitions:

Components

Fundamental parts or elements that make up a system or object.

United States Code

The codification by subject matter of the general and permanent laws of the United States, organized into a comprehensive code.

Majority Opinion

The judicial opinion agreed upon by more than half of the members of a court that represents the reasoning behind the court's decision.

Basis

The underlying support or foundation for an idea, argument, or process; in financial contexts, it refers to the value ascribed to an asset for tax purposes.