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If 40,000 worker-hours produced a total output of $400,000 in an economy, then the labor productivity is Multiple Choice a) $10 per worker-hour

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If 40,000 worker-hours produced a total output of $400,000 in an economy, then the labor productivity is

Multiple Choice

a) $10 per worker-hour.

b) $40 per worker-hour.

c) $16 per worker-hour.

d) $160 per worker-hour.

A nation's real GDP was $250 billion in Year 1 and $260 billion in Year 2. Its population was 120 million in Year 1 and 125 million in Year 2. What is its real GDP growth rate in Year 2?

Multiple Choice

a) 4 percent

b) 10 percent

c) 3.8 percent

d) 8.3 percent