Real GDP Is $700 Billion, Average Hours Worked Per Week

question 22

Multiple Choice

Real GDP is $700 billion, average hours worked per week is 42 and aggregate hours are 150 billion hours. What is the economy's labour productivity?

• A) $1.80 per hour
• B) $16.67 per hour
• C) $3.75 per hour
• D) $4.67 per hour
• E) $4.50 per hour

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Definitions:

Redefine Experiences

To redefine experiences means to alter or change the way experiences are understood, perceived, or valued, often leading to new insights or ways of engagement.

Subculture

A cultural group within a larger culture, often having beliefs or interests at variance with those of the larger culture.

Norms

Are generally accepted ways of doing things.

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Established rules or standards governing the actions or conduct of individuals within a group or society.