Two of the Three Pillars of Labor Productivity Growth Responsible

question 62

Multiple Choice

Two of the three pillars of labor productivity growth responsible for the changes in the United States after 1995 are technological change and

• A)labor force improvement.
• B)labor force growth.
• C)capital formation.
• D)consumption growth.

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Definitions:

Forming Department

A division within a manufacturing process where raw materials are shaped into finished products or components.

Finishing Department

The section in a manufacturing process where products are completed, tested, and prepared for delivery.

Predetermined Overhead Rate

An estimated charge used to apply manufacturing indirect costs to individual products or job orders, based on a chosen activity base.

Direct Labor-Hours

A measure of the work time spent by employees directly involved in the production of goods or services.