Average labor productivity times the proportion of the population employed equals:
A. real GDP per worker.
B. real GDP.
C. real GDP per person.
D. output per worker.
Answer: C
You might also like to view...
When beneficial externalities are present in a market, the actual output will be
a. greater than the optimal output. b. smaller than the optimal output. c. equal to the optimal output. d. either smaller or greater than the optimal output.
Charter schools
A. are public schools. B. operate under special state government charters. C. can experiment with a variety of approaches to education. D. have some independence in making spending and hiring decisions. E. all of these answer options are correct.
The exercise of union power will tend to
A. Cause product prices to be lower in unionized industries. B. Cause profits to be higher in unionized industries. C. Increase the supply of labor available to nonunion industries. D. Reduce the supply of labor available to nonunion industries.
When there is an increase in aggregate demand in the short run, there will be an increase in the price level but not in the level of output or employment.
Answer the following statement true (T) or false (F)