The Amount, , of Your Paycheck Is a Function

question 51

Multiple Choice

The amount, , of your paycheck is a function of your hourly wage, w, and the number of hours, h, you work. What does the statement mean in terms of your paycheck?

• A)An increase of 1 hour worked from 33 hours results in a wage increase of $9.
• B)An increase of 1 hour worked from 9 hours results in a wage increase of $33.
• C)An wage increase of $1 per hour from $33 per hour results in a wage increase of $9.
• D)An wage increase of $1 per hour from $9 per hour results in a wage increase of $33.

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Definitions:

Real GDP Per Person

The inflation-adjusted value of goods and services produced per individual in a country.

Real GDP Per Person

A measure of the value of all finished goods and services produced within a country in a specific time period, adjusted for inflation, divided by the total population.

Productivity

The measure of efficiency in which goods and services are produced, typically reflected by the quantity produced per unit of input.

Annual Growth Rate

The year-over-year increase in the value of a particular economic indicator, expressed as a percentage.