Which of the Following Statements About Productivity in the Service

question 301

Multiple Choice

Which of the following statements about productivity in the service sector of the U.S. economy is most accurate?

• A) Productivity in the service sector has increased much more rapidly than productivity in the manufacturing sector.
• B) Improving productivity in the service sector is much less important than improving productivity in the manufacturing sector, because the service sector does not really produce anything.
• C) Productivity in the service sector is easier to measure than productivity in agriculture.
• D) Measures of productivity in the service sector do a poor job of taking quality improvements into account.

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Definitions:

Past Demand

Historical data regarding the quantity of goods or services that were sought after by consumers in previous periods.

Qualitative Approach

A research strategy focusing on understanding the quality, nature, or characteristics of phenomena rather than quantifying them with numbers.

Random Fluctuations

The unpredictable changes in variables or systems over time, which can be due to a variety of uncontrolled or random factors.

Seasonal Fluctuations

Variations in demand, supply, or other economic factors that regularly occur at specific times of the year due to changes in season.