Examlex
Multiply and simplify.
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Output Per Worker
The average amount of goods or services produced by an employee in a given period, indicating labor productivity.
Current Technology
Current technology refers to the latest or most advanced technological innovations, tools, and practices available for use in various industries or activities.
Technological Improvement
The process of innovation where better technologies make production more efficient, leading to higher output with the same input.
Per-Worker Production Function
The per-worker production function depicts the relationship between the average product output per employee and the inputs used per employee, highlighting the efficiency of labor in production.
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