The table below shows the quantity of labor (measured in hours) and the productivity of labor
Refer to the above table. In Year 2, the economy's real GDP was:
A. $400,000
B. $420,000
C. $462,000
D. $500,000
B. $420,000
You might also like to view...
An increase in business tax rates, combined with a decrease in consumer confidence, would have what effect on aggregate demand? a. AD would increase
b. AD would decrease. c. AD would stay the same. d. AD could either increase or decrease, depending on which change was of a greater magnitude.
The CPI was 225 in 2008 and 232.2 in 2009. The nominal interest rate during this period was 1.4 percent. What was the real interest rate during this period?
A) 4.6 percent B) -1.8 percent C) -3.2 percent D) 3.2 percent E) 1.8 percent
According to the graph, what is the reduction in U.S. lumber consumption as a result of the tariff?
a. 700,000 board feet
b. 100,000 board feet
c. 200,000 board feet
d. 300,000 board feet
The leading center of Eurocurrency trading is
A) New York City. B) Chicago. C) London. D) Paris. E) Frankfurt.