Answered: Suppose an economy's real GDP is $5,000…

Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an average of 2,000 hours per year. a. What is labor productivity per hour in this economy?

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 12E

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Suppose an economy's real GDP is $5,000 billion. There are 125 million workers, each working an average
of 2,000 hours per year.
a. What is labor productivity per hour in this economy?

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