An increase in wages in the public sector is always accompanied by an increase in labor productivity

The basic premise behind worker trade-offs in a market economy is that:

A. workers decide how to allocate their time between work and leisure. B. workers don't decide how much leisure to have. The amount of leisure depends on the number of hours they must work, which is determined by the firm. C. the trade-off between work and leisure is determined by factors other than what workers or firms would determine to be optimal. D. firms decide how much workers must work and workers decide how much leisure to have.

If the real GDP in 2003 is $12,400 billion and the implicit price deflator is 1.4, what is the value of nominal GDP in 2003?

A. approximately $886 billion. B. approximately $8,857 billion. C. approximately $15,427 billion. D. $17,360 billion.