Real GDP is $700 billion, average hours worked per week is 42 and aggregate hours is 150 billion hours. What is the economy's labor productivity?
A) $3.75 per hour
B) $1.80 per hour
C) $4.67 per hour
D) $16.67 per hour
E) $4.50 per hour
C
You might also like to view...
When the quantity demanded of a good exceeds the quantity supplied of the good at the prevailing market price, _____.
A) the market will be in equilibrium. B) the price of the good will decrease. C) the price of the good will tend to increase. D) the demand curve will shift rightward until the surplus is eliminated. E) the supply curve will shift leftward until the surplus is eliminated.
Between 1950 and 2015 the productivity of wheat farmers in the United States more than doubled. This means that
A) the total amount of wheat produced more than doubled. B) the amount of land and other resources devoted to wheat production more than doubled. C) the amount of wheat produced by the average farmer more than doubled. D) the incomes of wheat farmers more than doubled.
The present value of $250,000 in 10 years at 2 percent interest is approximately:
A. $212,051. B. $205,087. C. $195,085. D. $305,194.
Standard and Poor’s gave mortgage-backed securities a ______ rating.
a. AAA b. BBB c. C d. D