What Two Factors Are the Keys to Determining Labor Productivity

question 49

Multiple Choice

What two factors are the keys to determining labor productivity?

• A)the business cycle and the growth rate of real GDP
• B)the growth rate of real GDP and the interest rate
• C)technology and the quantity of capital per hour worked
• D)the average level of education of the workforce and the price level

---

Definitions:

Control Limits

Statistical boundaries within a control chart that indicate the acceptable range of performance or variation for a process or activity.

ISO 9000

A set of international standards on quality management and quality assurance developed to help companies effectively document the quality system elements to be implemented to maintain an efficient quality system.

Standardization

The process of developing and implementing technical standards to ensure consistency, safety, and interoperability of products or systems.

Ishikawa Diagram

A visual tool used to identify, explore, and display the possible causes of a specific problem, also known as a fishbone diagram.