Labor productivity refers to the quantity of goods and services that can be produced
A) by the entire labor force.
B) by one worker or one hour of work.
C) in the entire economy in one year.
D) by all employed workers.
B
Economics
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If the aggregate demand curve and the aggregate supply curve intersect at a level of real GDP less than potential GDP, there is
A) a recessionary ga
Economics
The growth rate of real GDP per person in the United States has
A) averaged approximately 2 percent per year over the past century. B) has consistently been 2 percent per decade over the past century. C) has been the highest in the world over the past 5 decades. D) has increased every year over the past century.
Economics