Economists define the long run as any production time period lasting over one year
a. True
b. False
Indicate whether the statement is true or false
False
Economics
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Labor productivity equals ________
A) real GDP ÷ aggregate hours B) real GDP × aggregate hours C) aggregate hours ÷ real GDP D) aggregate hours × labor productivity E) aggregate hours ÷ labor productivity
Economics
On average, about half the labor force in developing countries works in agriculture, versus only about 3 percent in industrial market countries
a. True b. False
Economics