Question
Assume that an economy has 1,500 workers, each working 1,500 hours per year. If the average real output per worker-hour is $20, then total output,
Assume that an economy has 1,500 workers, each working 1,500 hours per year. If the average real output per worker-hour is $20, then total output, or real GDP, will be
rev: 10_12_2020_QC_CS-234699
Multiple Choice
- $1.5 million.
- $15 million.
- $60 million.
- $45 million.
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International Economics
Authors: Robert C. Feenstra, Alan M. Taylor
3rd edition
978-1429278515, 142927851X, 978-1319029517, 1319029515, 978-1429278447
