Productivity Is Generally Measured As

question 37

Multiple Choice

Productivity is generally measured as:

• A) output per worker.
• B) output divided by capital.
• C) the number of new products developed each year.
• D) a country's nominal output.

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Definitions:

Good Faith

The sincere intention to act without taking an unfair advantage over another party, often related to honest intentions in contractual agreements.

Quasi-contract

A legal concept that the court applies to impose an obligation on one party to prevent unjust enrichment, even though there is no actual contract between the parties.

Implied Contract

A contract formed by actions, behaviors, or circumstances that suggest mutual agreement or consent, even without explicit verbal or written terms.

Hybrid Contracts

Agreements that involve elements of both goods and services, where the provision of services and the sale of goods are combined into one contract.