Real GDP is the product of the
A. total hours of work times the labor force.
B. labor force times the output per hour.
C. nation’s capital stock times the output per hour.
D. total hours of work times the output per hour.
Answer: D
Economics
You might also like to view...
The spending multiplier effect is the result of a shift in the aggregate expenditures (AE) line
a. True b. False Indicate whether the statement is true or false
Economics
If the price elasticity of demand for football tickets is 4.5, then a 10 percent increase in the price of football tickets will generate a
a. 4.5 percent decrease in quantity demanded b. 4.5 percent increase in quantity demanded c. 45 percent decrease in quantity demanded d. 45 percent increase in quantity demanded e. 450 percent increase in quantity demanded
Economics