If Real GDP Is $12,150 Billion and Aggregate Labour Hours

question 15

Multiple Choice

If real GDP is $12,150 billion and aggregate labour hours are 270 billion, labour productivity equals

• A)$6.50 an hour.
• B)$45 an hour.
• C)$48 an hour.
• D)$650 an hour.
• E)$32.81 an hour.

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Definitions:

Recentering Process

A developmental shift, typically occurring in young adulthood, where individuals transition their primary concern from their family of origin to their own life course and significant relationships.

Part-Time Job

Employment with fewer hours per week than a full-time position, often offering flexibility but with reduced benefits and pay.

Emerging Adulthood

Proposed transitional period between adolescence and adulthood commonly found in industrialized countries.

Millennials

The demographic cohort following Generation X, typically regarded as people born between the early 1980s and the mid-1990s to early 2000s.