Increased Labor Productivity Has Been Less Important as a Source

question 215

True/False

Increased labor productivity has been less important as a source of growth than the increased labor
inputs in the U.S. economy since the 1950s.

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Definitions:

Foregone Resource

The benefits or income lost when one option is chosen over another, essentially another term for opportunity cost but often used in the context of tangible resources.

Cash Flow Estimation

The process of predicting the amount of money that will move in and out of a business in a future period.

Net Working Capital

The difference between a company's current assets and current liabilities, indicating short-term financial health.

Accounts Receivable

Money owed to a business by its customers for goods or services delivered but not yet paid for.