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...
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