Assume that the hypothetical economy of Ziam has 10 workers in year 1, each working
2000 hours per year (50 weeks at 40 hours per week). The total input of labor therefore is
20,000 hours. If productivity (aver -age real output per hour of work) is $10. What is real
GDP in Ziam? If work hours rise to 20,200 and labor productivity rises to $10. 40. What is
Ziam’s real GDP. What is rate of growth in Ziam’s?
