Business, 06.08.2021 20:10 JamesLachoneus
Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,500 hours per year (50 weeks at 30 hours per week). The total input of labor is 12,000 hours. Productivity (average real output per hour of work) is $10 per worker.
a. What is the real GDP in Molpol?
Suppose work hours rise by 5 percent to 12,600 hours per year and labor productivity rises by 5 percent to $10.5.
b. In year 2, what will be Molpol real GDP?
c. Between year 1 and year 2, what will be the Molpol rate of economic growth?
Answers: 2
Another question on Business
Business, 22.06.2019 08:10
Bakery has bought 250 pounds of muffin dough. they want to make waffles or muffins in half-dozen packs out of it. half a dozen of muffins requires 1 lb of dough and a pack of waffles uses 3/4 lb of dough. it take bakers 6 minutes to make a half-dozen of waffles and 3 minutes to make a half-dozen of muffins. their profit will be $1.50 on each pack of waffles and $2.00 on each pack of muffins. how many of each should they make to maximize profit, if they have just 20 hours to do everything?
Answers: 3
Business, 22.06.2019 14:00
How many months does the federal budget usually take to prepare
Answers: 1
Business, 22.06.2019 18:10
Consumers who participate in the sharing economy seem willing to interact with total strangers. despite safety and privacy concerns, what do you think is the long-term outlook for this change in the way we think about interacting with people whom we don't know? how can businesses to diminish worries some people may have about these practices?
Answers: 1
Business, 22.06.2019 19:20
Sanibel autos inc. merged with its competitor vroom autos inc. this allowed sanibel autos to use its technological competencies along with vroom autos' marketing capabilities to capture a larger market share than what the two entities individually held. what type of integration does this scenario best illustrate? a. vertical b. technological c. horizontal d. perfect
Answers: 2
You know the right answer?
Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,500 hours per...
Questions
Mathematics, 06.08.2019 20:20
Mathematics, 06.08.2019 20:20
Computers and Technology, 06.08.2019 20:20
