If the Number of Worker-Hours in an Economy Is 100

question 241

Multiple Choice

If the number of worker-hours in an economy is 100 and its labor productivity is $5 of output per worker-hour, the economy's real GDP

• A) is $20.
• B) is $500.
• C) is $5,000.
• D) cannot be calculated.

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Definitions:

Consolidation Entry A

An accounting entry made to adjust or combine financial information from separate entities during consolidation.

Consolidation Worksheet

A tool used in the preparation of consolidated financial statements that helps in adjusting and combining the financial information of parent and subsidiary entities.

Purpose

The objective or intended outcome that an organization or plan is meant to achieve.

In-process Research and Development

The value of research and development efforts acquired through an acquisition that have not yet reached commercial viability.