_____ Is the Most Influential of the Forces Affecting Productivity

question 77

Multiple Choice

_____ is the most influential of the forces affecting productivity.

• A) Government
• B) Union
• C) Individual worker
• D) Management

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Definitions:

Income Elasticity

A measure of how the demand for a good or service changes with a change in consumers' income.

Normal Good

A type of good for which demand increases when consumer income rises, and decreases when consumer income decreases.

Inferior Good

A type of good for which demand decreases as the income of consumers increases, opposite to normal goods.

Income Elasticity

A measure of how much the demand for a good or service changes with a change in consumers' income, indicating the nature of the good as either a necessity or a luxury.