Labor productivity is equal to the quantity of
A) real GDP.
B) real GDP consumed by the total population in one hour.
C) real GDP produced by one hour of labor.
D) workers employed during one hour.
E) workers who are gainfully employed.
C
Economics
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The textbook classifies technology as _______ and entrepreneurs as _______ .
A) knowledge; persons who seek profit by finding new ways to organize factors of production B) capital; labor C) labor skills; capital D) a factor of production; a factor of production
Economics
Assuming that dry cleaning is a normal good, an increase in consumer income, other things being equal, will:
a. increase the demand for dry cleaning. b. decrease the demand for dry cleaning. c. increase the quantity demanded of dry cleaning. d. decrease the quantity of dry cleaning demanded.
Economics