Most Economists Believe the Single Largest Cause of Rising Material

question 7

Multiple Choice

Most economists believe the single largest cause of rising material living standards over long periods of time is

• A)productivity growth.
• B)rising employment.
• C)growth in the capital stock.
• D)real GDP growth.
• E)rising real wages.

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Definitions:

Productivity

A measure of the efficiency of a person, machine, system, etc., in converting inputs into valuable outputs.

Catered-in Meal

A meal provided by an outside service for employees, typically for convenience during meetings, events, or work sessions.

Theory Y

A management approach that assumes employees are inherently motivated, seek responsibility, and can creatively solve organizational problems.

Freedom

The power or right to act, speak, or think as one wants without hindrance or restraint.