Which of the Following Was the Average Yearly Increase in U.S.labor

question 126

Multiple Choice

Which of the following was the average yearly increase in U.S.labor productivity growth between the 1870s and the early years of the 21st century?

• A)About 1 percent
• B)About 2 percent
• C)About 5 percent
• D)About 10 percent
• E)Between 0 and 1 percent

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Definitions:

Periodic Inventory System

An accounting method that records inventory purchase or sale transactions at the end of an accounting period.

Gross Method

An accounting method for recording purchases at the gross invoice amount before deducting any cash discounts for early payment.

Credit Terms

Conditions under which credit will be extended to a borrower, including the amount of credit, interest rate, and repayment schedule.

FOB Shipping Point

A term used in shipping contracts to indicate that the buyer is responsible for the cost of transporting the goods from the shipping point.