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

question 173

Multiple Choice

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

• A)$1.80 per hour
• B)$3.75 per hour
• C)$16.67 per hour
• D)$46.67 per hour
• E)$4.50 per hour

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Definitions:

Cheesecake

A sweet dessert consisting of one or more layers, the main, and thickest layer contains a mixture of soft, fresh cheese, eggs, and sugar.

Equilibrium Price

The market price at which the quantity of goods supplied equals the quantity demanded, leading to a stable market condition.

Consumer Surplus

The variation between the total value consumers can and will offer for a good or service and the amount they actually expend.

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An adventurous outdoor activity which involves navigating rivers with varying degrees of rough water in a raft.