Other Things Equal, If the Labor Input Grows Faster Than

question 6

True/False

Other things equal, if the labor input grows faster than total output, total factor productivity falls.

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Definitions:

Generic Demand

The overall demand for a category of products or services, not linked to any specific brand or model.

Product Class

A broad category of products that serve a similar function or are targeted at a similar customer segment.

Primary Demand

The overall demand for a product category or industry, rather than for a specific brand.

Product Class

A broad category of goods or services that share similar characteristics or serve similar purposes.