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Consider a Small Economy Where Factor Supply Is 4000 Units

Question 53

Multiple Choice

Consider a small economy where factor supply is 4000 units, the factor utilization rate is 0.8 and a simple measure of productivity (GDP per factor employed) is $50. This economy's GDP is


A) $200 000
B) $320 000
C) $160 000
D) $40 000
E) $500 000

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