Assume that an economy has 9000 workers, each working 2000 hours per year. The average real output per worker-hour is $20. What will the total output or real GDP be? Explain
Please provide the best answer for the statement.
$270 million. Take the 9000 workers and multiply that number times 2000 work hours. It results in 18,000,000 work hours. Multiplying this number of work hours by $15 per hour results in $270 million.
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a. True b. False Indicate whether the statement is true or false
If the tax increases as the tax base increases, the tax is said to be
a. proportional. b. regressive. c. digressive. d. progressive.