The full-employment quantity of labour is
A) the number of people in the labour force multiplied by the average hours per worker.
B) the participation rate multiplied by the average hours per worker.
C) the working-age population multiplied by the average hours per worker.
D) the working-age population divided by the participation rate.
E) the number of people in the labour force divided by the participation rate.
Correct Answer:
Verified
Q22: Q23: The total labour hours that all the Q33: The supply of labour is defined as Q56: Real GDP is $700 billion, average hours Q58: Suppose that the Australian economy initially uses Q60: Diminishing returns along a production function means Q62: The labour market is in equilibrium whenever Q64: An increase in the supply of labour Q65: Households increase the quantity of labour supplied Q67: Labour productivity is equal to the quantity
A)the
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