The Efficiency of Labor

question 93

Multiple Choice

The efficiency of labor:

• A) is the marginal product of labor.
• B) is the rate of growth of the labor force.
• C) includes the knowledge, health, and skills of labor.
• D) equals output per worker.

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Definitions:

Journal Entry

A record in accounting that notes every transaction, capturing both the debit and credit side, in financial statements.

Market Rate

The prevailing interest rate available in the marketplace or the price at which goods can be bought or sold in an open market.

Bond Issue

The process by which a borrower issues bonds to investors in order to raise capital.

Cash Flow

The total amount of money being transferred into and out of a business, especially as affecting liquidity.