Which of the Following Will Likely Cause an Increase in Output

question 39

Multiple Choice

Which of the following will likely cause an increase in output per worker?

• A)an increase in education expenditures
• B)an increase in the saving rate
• C)an increase in on-the-job training
• D)all of the above

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Definitions:

Product Promotion

Marketing efforts aimed at increasing awareness and sales of a product through advertising, incentives, and public relations.

Monopolistic Competition

An arrangement in the marketplace where several businesses trade in goods that are akin but not completely identical, affording them limited market authority.

Economic Profits

Profits calculated by subtracting both explicit and implicit costs from total revenues, beyond just accounting profits.

Average Cost

Average cost is the total cost of production divided by the number of goods produced, indicating the cost per unit of output.