Multiple Choice
In Econland total output is $8 billion, population equals 500,000 people, and, of these, 400,000 are employed workers. Output per person in Econland equals ________ and average labor productivity equals ________.
A) $20,000; $16,000
B) $16,000; $20,000
C) $20,000; $20,000
D) $16,000; $16,000
Correct Answer:
Verified
Correct Answer:
Verified
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