The Table Shows the Quantity of Labor (Measured in Hours)

question 44

Multiple Choice

$$\begin{array} { | c | c | c | } \hline \text { Year } & \text { Quantity of Labor } & \text { Productivity of Labor } \\\hline 1 & 2,000 & \$ 200 \\\hline 2 & 2,000 & 210 \\\hline 3 & 2,000 & 210 \\\hline\end{array}$$ The table shows the quantity of labor (measured in hours) and the productivity of labor (measured in real GDP per hour) in a hypothetical economy in three different years. Between Year 1 and Year 2,
Real GDP increased by

• A) 1.5 percent.
• B) 2.5 percent.
• C) 5.0 percent.
• D) 6.0 percent.

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Definitions:

Conglomerate Merger

A type of merger between companies that operate in entirely different industries.

Product Extension

A marketing strategy where an existing product is introduced to a new market segment or modified to appeal to a broader audience.

Horizontal Merger

A merger between two or more competitors producing the same or similar products.

Gaskets

Mechanical seals that fill the space between two or more mating surfaces, generally to prevent leakage from or into the joined objects while under compression.