Which of the Following Is Correct with Regard to Industry

question 271

Short Answer

Which of the following is correct with regard to industry productivity?
Productivity does not vary much across different industries.
Productivity is not important to labour unions when they are negotiating a new collective agreement, but it is important to investors.
Activities like web surfing, social networking, and water cooler conversations inhibit productivity.
Increased productivity allows companies to pay workers higher wages without raising prices to consumers.
All of these statements are correct.

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Definitions:

Risk Diversified

The strategy of spreading investments across various assets to reduce exposure to risk in any single area.

Expected Income

The amount of income an individual anticipates or forecasts to receive over a certain period.

Probability

A numeric evaluation representing the probability of an event taking place, where 0 signifies no chance and 1 signifies certainty.

Expected Income

The weighted average of all possible income outcomes, where the weights are the probabilities of each outcome occurring.