Examlex
Please define the following key terms
-Cassandra Fedele
Total Output
The total amount of goods and services produced by an economy or firm in a specific period.
Total Revenue
The total amount of money generated by a firm from selling its goods or services before any costs or expenses are subtracted.
Labor Productivity
A measure of economic performance that compares the amount of goods and services produced with the number of hours worked.
Standard Of Living
A measure of the wealth, comfort, material goods, and necessities available to a certain socioeconomic class or geographic area.
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