Which Statement Best Defines Productivity

question 123

Multiple Choice

Which statement best defines productivity?

• A) Productivity is the ability of a company to generate profit.
• B) Productivity is the quantity of goods and services that a nation can produce in a year.
• C) Productivity is the quantity of goods or services that a worker can produce in one hour.
• D) Productivity is the ability of a company to produce goods and services.

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Definitions:

Full Employment

An economic situation where all available labor resources are being used in the most efficient way possible, essentially meaning there is no involuntary unemployment.

Keynes

Refers to John Maynard Keynes, an influential British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Government Spending

Expenditures by the government for goods and services that directly benefit the population, including spending on health, education, defense, and public infrastructure.

Keynes

Refers to John Maynard Keynes, a British economist whose theories on government spending and monetary policy formed the basis of Keynesian economics.