Answered

Looking for trustworthy answers? Westonci.ca is the ultimate Q&A platform where experts share their knowledge on various topics. Our platform connects you with professionals ready to provide precise answers to all your questions in various areas of expertise. Discover in-depth answers to your questions from a wide network of professionals on our user-friendly Q&A platform.

Suppose total output (real GDP) is $1,000 and labor productivity is $10. We can conclude that the number of worker hours must be

Sagot :

Answer:

100 hours

Explanation:

Total output  = labour productivity x hours worked

$1000 = $10 x hours

hours = $1000 / $10

= 100

Gross domestic product is the total sum of final goods and services produced in an economy within a given period which is usually a year

Real GDP is GDP calculated adjusting for  inflation.

We hope you found what you were looking for. Feel free to revisit us for more answers and updated information. We hope this was helpful. Please come back whenever you need more information or answers to your queries. Thank you for trusting Westonci.ca. Don't forget to revisit us for more accurate and insightful answers.