What is productivity? How does a country's standard of living relate to productivity?
What will be an ideal response?
Productivity refers to the amount of goods and services produced per worker. Per capita real GDP increases only if productivity increases, so, increases in a country's standard of living are tied to increases in productivity.
Economics
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The nominal interest rate plus the inflation rate equals the real interest rate
Indicate whether the statement is true or false
Economics
How does the owner of a sole proprietorship relate to the business?
A) The assets of the owner are considered separate from the assets of the business. B) The owner and the business are not separate legal entities. C) The owner and the business are separate legal entities. D) None of these describe the legal relationship of the owner to the business.
Economics