GDP can be represented by the equation: GDP = L x [E/L] x [GDP/E]. In this equation, the term [E/L] represents
A)the ratio of the population unemployed.
B)the level of employment at a given period of time.
C)the labour force.
D)the productivity of labour.
E)one minus the unemployment rate.

Question

Quizplus · Accepted Answer

The Answer of GDP can be represented by the equation: GDP = L x [E/L] x [GDP/E]. In this equation, the term [E/L] represents
A)the ratio of the population unemployed.
B)the level of employment at a given period of time.
C)the labour force.
D)the productivity of labour.
E)one minus the unemployment rate.

GDP Can Be Represented by the Equation: GDP = L