Question
Assume that an economy has 1,000 workers, each working 2,000 hours per year. If the average real output per worker-hour is $20, then total output,
Assume that an economy has 1,000 workers, each working 2,000 hours per year. If the average real output per worker-hour is $20, then total output, or real GDP, will be
Multiple Choice
- $2 million.
- $20 million.
- $30 million.
- $40 million.
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Managerial Economics
Authors: William F. Samuelson, Stephen G. Marks
8th edition
1118808940, 978-1119025900, 1119025907, 978-1119025924, 978-1118808948
