Which of the following is a difference between real GDP per capita and real GDP per worker hour?
a. Real GDP per capita is the dollar value of output produced by an average worker in one hour, while real GDP per worker hour is the number of available goods and services per person.
b. Real GDP per capita is the ratio of real GDP to population, while real GDP per worker hour is the ratio of GDP to the number of hours worked.
c. Real GDP per capita is the difference between real GDP and population, while real GDP per worker hour is the difference between real GDP and the number of hours worked.
d. Real GDP per capita increases with an increase in population, while real GDP per worker hour decreases with an increase in population.
b
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It's as simple as this: Bankers hope to make profit by
a. holding people's money at low interest rates and lending it out at higher interest rates b. holding people's money at high interest rates and lending it out at lower interest rates c. charging for bank services such as check clearing and ATM services d. keeping excess reserves in case of a bank run e. charging people to use demand deposit accounts
The actual rate of unemployment will be greater than the natural rate of unemployment when
a. the actual output is less than the economy's potential output. b. the actual output is greater than the economy's potential output. c. the actual output is equal to the economy's potential output. d. the inflation rate has been relatively constant for several years.
If all developed countries were willing to meet the U.N.'s Millennium Aid Goal for foreign aid, this would eliminate global poverty.
Answer the following statement true (T) or false (F)
About ______% of the labor force belongs to a labor union.
A. 8 B. 12 C. 19 D. 26