Average Labour Productivity

question 53

Multiple Choice

Average labour productivity

• A) is a leading economic variable.
• B) is a lagging economic variable.
• C) is more variable than real GDP.
• D) is about as variable as investment.
• E) is procyclical.

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Definitions:

Market Reforms

Market reforms refer to changes made to an economy with the goal of improving efficiency and growth by increasing the role of market forces (supply and demand) in determining the production and distribution of goods and services.

Elite Democratic Camp

A political concept pertaining to a group within the democratic system that holds significant influence or power, often through economic or social status.

Deregulation

The process of removing government regulations and restrictions from certain areas of business or sectors of the economy to encourage efficiency and competition.