Business, 06.08.2021 20:10 JamesLachoneus

Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,500 hours per year (50 weeks at 30 hours per week). The total input of labor is 12,000 hours. Productivity (average real output per hour of work) is $10 per worker. a. What is the real GDP in Molpol?
Suppose work hours rise by 5 percent to 12,600 hours per year and labor productivity rises by 5 percent to $10.5.

b. In year 2, what will be Molpol real GDP?
c. Between year 1 and year 2, what will be the Molpol rate of economic growth?

Answers: 2

Show answers

Another question on Business

Business, 22.06.2019 10:20

Blue spruce corp. has the following transactions during august of the current year. aug. 1 issues shares of common stock to investors in exchange for $10,170. 4 pays insurance in advance for 3 months, $1,720. 16 receives $710 from clients for services rendered. 27 pays the secretary $740 salary. indicate the basic analysis and the debit-credit analysis.

Answers: 1

Answer

Business, 22.06.2019 11:00

What is the advantage of developing criteria for assessing the effectiveness of business products and processes? a. assessment criteria are answers. b.assessment criteria are inexpensive. c.assessment criteria provide you with a list of relevant things to measure. d.assessment criteria provide you with a list of people to contact to learn more about process mentoring.

Answers: 3

Answer

Business, 22.06.2019 13:00

Creation landscaping has 1,000 bonds outstanding that are selling for $1,280 each. the company also has 2,000 shares of preferred stock outstanding, currently priced at $27.20 a share. the common stock is priced at $37.00 a share and there are 28,000 shares outstanding. what is the weight of the debt as it relates to the firm's weighted average cost of capital?

Answers: 1

Answer

Business, 23.06.2019 01:00

Why does the downward-sloping production possibilities curve imply that factors of production are scarce?

Answers: 1

Answer

You know the right answer?

Assume that the hypothetical economy of Molpol has 8 workers in year 1, each working 1,500 hours per...

Questions