Suppose labor productivity is $8 per hour andhours worked in the macroeconomy are 600.Calculate Real GDP$4800$6000$4600$600Which of the following is not part of GDP?a. New services expenditures generated inthe macroeconomyb. The sale of a used textbook.c. $2 billion increase in gross investmentexpendituresd. $5 million in new green publicinfrastructure3.Which of the following is part of GDP?a) Social Security payments received by aretired factory worker.b) Purchase of Apple stocks.c) A monthly allowance a college studentreceives from home.d) Increase in business inventories

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Suppose labor productivity is $8 per hour and hours worked in the macroeconomy are 600. Calculate Real GDP $4800 $6000 $4600 $600 Which vin art

Brief Principles of Macroeconomics (MindTap Course List)

8th Edition

ISBN:9781337091985

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter7: Production And Growth

Section: Chapter Questions

Problem 5CQQ

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Question

Suppose labor productivity is $8 per hour and
hours worked in the macroeconomy are 600.
Calculate Real GDP
$4800
$6000
$4600
$600
Which of the following is not part of GDP?
a. New services expenditures generated in
the macroeconomy
b. The sale of a used textbook.
c. $2 billion increase in gross investment
expenditures
d. $5 million in new green public
infrastructure
3.Which of the following is part of GDP?
a) Social Security payments received by a
retired factory worker.
b) Purchase of Apple stocks.
c) A monthly allowance a college student
receives from home.
d) Increase in business inventories

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