Changes in productivity can be analysed by looking at how GDP per employed worker changes over time or how GDP per hour worked changes over time. Why might one measure be more preferable than the other? a. GDP per hour worked is preferable because it eliminates the need to adjust for variations in productivity between employed workers. b. GDP per employed worker is preferable because the number of employed workers has risen significantly over time. c. GDP per employed worker is more accurate because the data available on the number of employed workers is more accurate than the data available on the number of hours worked. d. GDP per hour worked is more accurate because the average number of hours worked per employed worker has changed over time. e. Both measures are equally good.

CALCULATE: Calculate total labor force growth rate in 2022 compared to 2021?

The following table reports real income per person for several different economies in the years 1960 and 2010. It also gives each economy's average annual growth rate during this period. For example, real income per person in Zambia was $1,412 in 1960, and it actually declined to $1,309 by 2010. Zambia's average annual growth rate during this period was -0.15%, and it was the poorest economy in the table in the year 2010.   The real income-per-person figures are denominated in U.S. dollars with a base year of 2005. The following exercises will help you to understand the different growth experiences of these economies.   Economy Real Income per Person in 1960 (Dollars) Real Income per Person in 2010 (Dollars) Annual Growth Rate (Percent) Austria 9,773 35,031 2.59 Venezuela 7,307 9,762 0.58 Botswana 468 9,515 6.21 Malaysia 1,624 11,863 4.06 Honduras 1,932 3,146 0.98 Zambia 1,412 1,309 -0.15   Indicate which economy satisfies each of the following…

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Last year real GDP per person in the imaginary nation of Olympus was $4,260. The year before it was $4,100. By about what percentage did real GDP per person grow during the period? a. 1 percent b. 0.04 percent c. 16 percent d. 4 percent