1. Net operating surplus is procyclical, but it will only start to increase after real GDP increases and it decreases only after real GDP decreases.
-T/F?
2. The macroeconomic data show that 
is just as
volatile as 
.
-T/F?
3. Real GDP divided by the total supply of labor given the ________ of labor.
-Fill in the blank
Homework Answers
1. Net operating surplus is the surplus obtained after deducting the depreciation. As it does not take into consideration the price factor, so it starts to increase if real GDP increases and also decreases if real GDP decreases.
Hence,bthr statement is true.
2. 'c' represents the propensity to consume. This 'c' is not volatile. With the increase in income the consumption increases, bit thus increase it till a point, after that the consumption remains stagbant. Therefore, this 'c' is not much volatile as Y. Hence, this statement is false.
3. Real GDP divided by the total supply of labour gives the productivity of labour.
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