Switching from One Industry Group to Another Over the Course

question 14

True/False

Switching from one industry group to another over the course of a business cycle is known as a rotation strategy.

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Definitions:

Productivity

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

Human Capital

The skills, knowledge, and experience possessed by an individual or population, viewed in terms of their value or cost to an organization or country.

Physical Capital

Tangible assets such as buildings, machinery, and equipment used in the production of goods and services.

Productivity

The efficiency with which input resources are converted into outputs, often measured as output per hour worked.