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If Both Total Employment and Total Output in an Economy

question 39

Multiple Choice

If both total employment and total output in an economy grow by 2 percent each year,then the annual growth in labor productivity in the economy over a decade will be equal to _____.

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Definitions:

Existence Need

In the context of motivation theories, particularly ERG theory, existence needs refer to basic physical and material well-being requirements such as food, safety, and shelter.

Growth

An increase in the size, number, value, or strength of something over time.

Relatedness

The need to feel connected to others, an essential aspect of human motivation that impacts behavior and psychological well-being.

Need Profile

An analysis or description of the specific needs or requirements of an individual or organization.

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