The Quantity of Real GDP Produced by One Hour of Labor

question 224

Multiple Choice

The quantity of real GDP produced by one hour of labor is defined as

• A)real GDP per person.
• B)the advance in technology.
• C)the growth rate of technology.
• D)labor productivity.
• E)economic growth.

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Definitions:

Key Attributes

Essential qualities or features that define and differentiate an object, concept, or person.

Waggle Dance

A figure-eight dance performed by honeybees to communicate the direction and distance of a food source to other bees in the hive.

Pheromones

Chemical substances produced and released into the environment by animals, affecting the behavior or physiology of others of the same species.

Noncompensatory Model

A decision-making approach where no trade-offs are allowed; that is, a poor score in one criterion cannot be offset by a high score in another.