Figure 7-1 -USX, a Steel Company, Reduced the Number of Man-Hours Required

question 101

Multiple Choice

Figure 7-1
-USX, a steel company, reduced the number of man-hours required to produce a ton of steel from 10.8 in 1982 to 3.8 in 1990, thereby eliminating 55,000 jobs.Technically, this rise in productivity means the

• A)marginal product of labor increased.
• B)average product of labor increased.
• C)average product of capital fell.
• D)marginal product of capital fell.

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Definitions:

Low Power Distance

A societal characteristic where individuals perceive little difference in power and status among members, promoting equality and challenging authority.

Feedback

The information and reactions received about an individual's performance or about the results of a business activity, used as a basis for improvement.

Managing Cultural Differences

The practice of acknowledging and adapting to cultural variations in a global business environment.

Recognition

The acknowledgment or appreciation of someone's status, achievements, or rights.