Labor productivity increases when
A) the average number of hours people work goes up.
B) the unemployment rate decreases.
C) the average output produced per worker during a specified time period increases.
D) the average output produced per worker during a specified time period decreases.
C
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If the marginal propensity to consume (MPC) in your classmate's nation is 3/5 and the marginal propensity to save (MPS) in your country is 1/10, which of the following must be true?
a. The spending multiplier is larger in your classmate's nation than in your country. b. The spending multiplier is smaller in your classmate's nation than in your country. c. Autonomous consumption is higher in your classmate's nation than in your country. d. Autonomous consumption is lower in your classmate's nation than in your country. e. Total consumption is lower in your classmate's nation than in your country.
Which of the following is an example of a normative, as opposed to positive, statement?
a. Universal health care would be good for U.S. citizens. b. An increase in the cigarette tax would cause a decrease in the number of smokers. c. A decrease in the minimum wage would decrease unemployment. d. A law requiring the federal government to balance its budget would increase economic growth.