Answered step by step
Verified Expert Solution
Question
1 Approved Answer
In the country of Hogwarts real GDP per-capita is $1,000 and the share of population employed is 0.8. In the country of Voldermort real GDP
In the country of Hogwarts real GDP per-capita is $1,000 and the share of population employed is 0.8. In the country of Voldermort real GDP is $500,000, population is 1,000 and employment is 400. Which of the following statements is correct? a. Labour productivity is higher in Hogwarts than in Voldermort b. Labour productivity is lower in Hogwarts than in Voldermort. c. Total factor productivity is higher in Hogwarts than in Voldermort. d. Total factor productivity is lower in Hogwarts than in Voldermort. e. Labour productivity is equal in both countries
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started