The Bureau of Labor Statistics Index of Labor Productivity:

Question

Quizplus · Accepted Answer

The Bureau of Labor Statistics Index of Labor Productivity is calculated by dividing real private-sector GDP by the number of private-sector worker hours. This measure provides a more accurate representation of productivity growth within the private sector, as it adjusts for inflation and excludes government and public sector output. Choices A and B are incorrect because the index covers only the private sector, not the entire economy, and it adjusts for inflation by using real GDP, not nominal GDP. Choice C is incorrect because it refers to nominal GDP, which does not account for inflation.