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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Refer to the table above. The capital and financial account balance is
A) $190 billion. B) $200 billion. C) -$190 billion. D) -$200 billion. E) $1,900 billion.
The labor demand curve shows the
a. number of workers that firms will want to hire at any wage rate b. number of people who will want jobs at any wage rate c. amount of labor that a firm needs to produce a given amount of output d. equilibrium wage rate and number of workers employed e. amount of output workers will be able to buy for a given number of hours worked