Consider a hypothetical economy with a population of 500 people,each of whom is employed for 2000 hours per year. The nation's GDP is $25 million. In this economy,
A) GDP per capita is $12,500 and labor productivity per hour is $4
B) GDP per capita is $25,000 and labor productivity per hour is $50
C) GDP per capita is $50,000 and labor productivity per hour is $40
D) GDP per capita is $25,000 and labor productivity per hour is $80
E) GDP per capita is $50,000 and labor productivity per hour is $25
Correct Answer:
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