The formula for the computation of labor productivity is
A) nominal GDP/number of workers. B) real GDP/number of workers.
C) nominal GDP/population. D) real GDP/population.
B
You might also like to view...
Why is the credit spread countercyclical and coincident?
What will be an ideal response?
. The mid-point method of calculating elasticity is typically used because:
A. it is easier to calculate. B. it is universally understood by all economists. C. the negative sign can then be ignored. D. it is a consistent way to estimate the elasticity of demand between two points on a demand curve, regardless of the direction of the movement.
As a result of a tariff on imports,
a. imports will fall, exports will fall, and total output will decline. b. imports will fall, exports will rise, and total output will decline. c. imports will rise, exports will fall, and total output will expand. d. imports will rise, exports will rise, and total output will expand.
Which of the following statements is correct about the roles of economists?
a. Economists are best viewed as policy advisers. b. Economists are best viewed as scientists. c. In trying to explain the world, economists are policy advisers; in trying to improve the world, they are scientists. d. In trying to explain the world, economists are scientists; in trying to improve the world, they are policy advisers.