If aggregate hours worked grows more slowly than the number of people employed then a. people are working fewer hours on average. b. people are working more hours on average. c. there must be fewer part time workers. d. None of these is correct because aggregate hours cannot grow more slowly than the number of people employed.
If aggregate hours worked grows more slowly than the number of people employed then a. people are working fewer hours on average. b. people are working more hours on average. c. there must be fewer part time workers. d. None of these is correct because aggregate hours cannot grow more slowly than the number of people employed.
Chapter1: Making Economics Decisions
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If aggregate hours worked grows more slowly than the number of people employed then
a. people are working fewer hours on average.
b. people are working more hours on average.
c. there must be fewer part time workers.
d. None of these is correct because aggregate hours cannot grow more slowly than the number of people employed.
Expert Solution
Step 1
Answer:
If the aggregate hours worked grows more slowly than the number of people employed then the average hours worked will decrease or people will be working fewer hours on average. It is because the numerator value (i.e. aggregate hours worked) will grow less and the denominator value (i.e. number of people) will grow more so overall value will fall.
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