Over the Last Century,U.S.labor Productivity Has

question 54

Multiple Choice

Over the last century,U.S.labor productivity has:

• A)fallen.
• B)been constant,on average.
• C)grown at about 2 percent per year.
• D)grown at about 8 percent per year.
• E)grown at about 15 percent per year.

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Definitions:

Gross Profits

The financial gain obtained after subtracting the cost of goods sold from total revenue, indicating the efficiency of a company’s production process.

Probability

The measure of the likelihood that an event will occur, expressed as a number between 0 and 1, where 0 indicates impossibility and 1 indicates certainty.

Expected Opportunity Loss

A statistical determination of potential loss due to not selecting the optimal choice among different options.

Gross Profits

The difference between revenue and the cost of goods sold before deducting overheads, payroll, taxation, and interest payments.