Productivity Is

question 44

Multiple Choice

Productivity is

• A) the ratio of labor to sales as to how sales were generated based on resources used.
• B) the ratio of number of hours worked per employee.
• C) the value of the output produced by a unit of labor or capital.
• D) none of the above

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Definitions:

Positive Entry

The introduction of new firms into a market in response to observed profits, leading to increased competition.

Goods Imports

The action or process of bringing goods and services from foreign countries into a domestic market for consumption or use.

Exports of Services

Economic transactions where domestic service providers offer their services to entities in foreign countries.

Exchange Rates

The price at which one currency can be exchanged for another in the foreign exchange market.