Labor productivity equals
A) the total production of labor.
B) real GDP.
C) real GDP divided by the amount of human capital.
D) real GDP per hour of labor.
E) the quantity of labor hours divided by real GDP.
D
Economics
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Two nations can produce computers and software in the amounts given in the table above
Does either nation have an absolute advantage in producing the products? Which nation has a comparative advantage in computers? Which nation has a comparative advantage in software? Explain your answers.
Economics
For which of the following pairs of goods is the cross elasticity of demand positive?
A) tennis balls and tennis rackets B) videotapes and laundry detergent C) airline trips and textbooks D) beef and chicken
Economics