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GCE ch 8 final exam questions & answers
GCE ch 8 final exam questions & answers 
 
 
Gross Domestic Product (GDP) - ANSWERS- most widely used measurement of the material standard of living of a country 
 
- nationally represents the total annual output of a nations economy. 
 
labor productivity - ANSWERSA measure of economic performance that compares the amount of goods & services produced (output) with the number of labor hours used in producing those goods & services. 
 
- Equals the real output per labor hour. 
 
- Growth= Outp...