If Real GDP Is $800 Million and Aggregate Labor Hours

question 51

Multiple Choice

If real GDP is $800 million and aggregate labor hours are 20 million, labor productivity is

• A) $40 per hour.
• B) $16,000 million.
• C) $40 million.
• D) $160 per hour.

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Definitions:

Response Set

A pattern of response to questions on a self-report measure that is not related to the content of the questions.

Simplicity

The quality of being easily understood or executed without unnecessary complexity; often valued in scientific theories and models for its elegance and efficiency.

Positivity

The practice of maintaining a positive attitude and focusing on the good aspects of any situation.

Objectivity

Refers to the concept of being unbiased and impartial, evaluating facts without letting personal feelings or prejudices affect judgement.