Consider a Small Economy with Real GDP of $1 Billion

question 31

Multiple Choice

Consider a small economy with real GDP of $1 billion and the total number of hours worked equal to 5 million.Which of the following is the best measure of labour productivity in this economy?

• A)real GDP per hour worked = $20
• B)real GDP per employed worker = $20
• C)real GDP per hour worked = $200
• D)real GDP per employed worker = $200
• E)Not able to determine from the information provided

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Definitions:

Savings

The difference between the number of repetitions originally required to learn a list and the number of repetitions required to relearn the list after a certain amount of time has elapsed.

Repetitions

The act of doing or saying something several times, often for learning, emphasis, or effect.

Verbal Memories

The aspect of memory that deals with the recall and recognition of words and language.

Hippocampus

A region of the brain associated with memory formation, learning, and emotions.