If the total output in the economy in real terms is $4000. And the labor productivity is $5. It means that the total factor income paid to the worker as wages is $4000.
Hence the number of worker hours is the ratio of the total wage and labor productivity,
So the number of worker hours: 4000/5 = 800
So, the correct answer is: 800
Labor productivity is the number of goods and services produced by a group of workers in a given period of time. It is one of many types of productivity that economists measure. Labor productivity, commonly known as labor productivity, is a measure of an organization or business, process, industry, or country.
Employee productivity should be distinguished from employee productivity, which is a measure used at the individual level based on the assumption that overall productivity can be broken down into smaller and smaller units and ultimately to individual employees, to be used for example for purposes of conferring a benefit or a form of punishment based on individual merit.
In 2002, the OECD defined it as "the ratio between a measure of the volume of output and measure of the volume of input". The volume measures of output are usually gross domestic product (GDP) or gross value added (GVA), expressed at fixed prices, i.e. adjusted for inflation.
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