Suppose Total Output (Real GDP) Is $10,000 and Worker-Hours Are

question 4

Multiple Choice

Suppose total output (real GDP) is $10,000 and worker-hours are 20,000.We can conclude that:

• A)real GDP per capita must be $200,000.
• B)the price-level index must be less than 100.
• C)labour productivity must be 0.5.
• D)nominal GDP must be between $10,000 and $20,000.

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Definitions:

Removed From Reality

A phrase describing a state or condition in which an individual is out of touch with the physical world or current circumstances.

Delusion

A false belief or judgment, often of a paranoid or grandiose nature, that is maintained despite being contradicted by reality or rational argument.

Reincarnation

The belief that the soul, after death, can begin a new life in a new body, a concept found in various religious and philosophical traditions.

Delusion

A strongly held belief that contradicts reality or rational argument, often a symptom of psychiatric disorders.