If the average worker's productivity is $12 per hour and the labor force is employed for 600 billion hours,GDP is equal to
A)$7.2 trillion.
B)$50 billion.
C)$588 billion.

Question

Quizplus · Accepted Answer

GDP is calculated as the total value of all goods and services produced within a country in a given period of time. In this case, since the labor force is employed for 600 billion hours, the total value produced would be the product of the number of hours worked and the average productivity per hour.

Therefore, GDP = 600 billion hours x $12/hour = $7.2 trillion.

Therefore, the best choice is (A).

If the Average Worker's Productivity Is $12 Per Hour and the Labor