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Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
Edition 2ISBN: 978-0077416409Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
Edition 2ISBN: 978-0077416409 Exercise 8
Suppose that work-hours in New Zombie are 200 in year 1 and productivity is $8. What is New Zombie's real GDP? If work hours increase to 210 in year 2 and productivity rises to $10, what is New Zombie's rate of economic growth?
Explanation
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Real GDP is defined as the measure of th...
Macroeconomics 2nd Edition by Campbell McConnell ,Stanley Brue,Sean Flynn
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