Sentence:  The extent to which the public limit price is raised by a given increase in the basic wage rate is itself a function of three things : the passage of time , the level of <WSD>GNP</WSD> , and the size of the wage increase . 
Meaning of the word marked with <WSD> tags:  former measure of the United States economy; the total market value of goods and services produced by all citizens and capital during a given period (usually 1 yr)