Solved

GDP Equals Hours of Work Multiplied by Output Per Hour

Question 192

Multiple Choice

GDP equals hours of work multiplied by output per hour.This can be rewritten as


A) growth rate of potential GDP = growth rate of labor input + growth rate of labor productivity.
B) potential GDP = wages + cost of production.
C) growth rate of real GDP = growth rate of labor input + growth rate of marginal output.
D) growth rate of GDP = growth rate of wages + growth rate of labor productivity.

Correct Answer:

verifed

Verified

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions