Business, 05.05.2020 09:10 aweller3898
A nation's technological gains have increased labor productivity and, as a result, the average number of hours worked each week has been falling. How do Gross Domestic Product (GDP) calculations account for this shortening of the average workweek?
A. Neither real Gross Domestic Product​ (GDP) nor per capita real Gross Domestic Product​ (GDP) includes the increase in leisure time that​ results, so the​ nation's actual economic growth will be overstated.
B. Gains in leisure time are not included in Gross Domestic Product​ (GDP), so any increase in real per capita Gross Domestic Product​ (GDP) will understate the​ nation's actual economic growth.
C. Gains in leisure time are​ dollar-valued and included in real per capita Gross Domestic Product​ (GDP) gains.
D. Real Gross Domestic Product​ (GDP) does not factor in an increase in leisure time but per capita real Gross Domestic Product​ (GDP) does.
Answers: 3
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A nation's technological gains have increased labor productivity and, as a result, the average numbe...
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