Productivity

question 123

Multiple Choice

Productivity

• A)Rises when the value of output rises relative to the cost of inputs.
• B)Falls when the value of output rises relative to the cost of inputs.
• C)Rises when the ratio of output to input increases.
• D)Falls when factors of production cost more.

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Definitions:

Labatt Ale

A popular brand of beer produced in Canada, known for its history and variety of brews.

Single Peaked

A type of preference or opinion that, when graphed, shows a single top or highest preference, typically used in voting theory to describe voters' preferences over various issues.

Public Goods

Goods that are non-excludable and non-rivalrous, meaning they can be used by more than one person at a time without depletion of the resource.

Pairwise Majority Voting

A voting system where each option is matched against every other option in separate votes, and the one winning the most matches is chosen.