Total Factor Productivity Is the Ratio of

question 72

Multiple Choice

Total factor productivity is the ratio of

• A) skilled labor to unskilled labor.
• B) wartime productivity to peacetime productivity.
• C) manufacturing productivity to service productivity.
• D) agricultural productivity to industrial productivity.
• E) the economy's output to its stock of capital and labor.

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Definitions:

Unemployed

Refers to individuals who are capable of working and willing to work but cannot find employment.

Misery Index

An economic indicator created by summing the unemployment rate and inflation rate, intending to measure economic discomfort within a country.

Financial Industry

A sector of the economy that includes businesses and institutions that provide financial services, such as banking, investment, and insurance.

Stimulus

Economic measures taken by the government to encourage growth or prevent economic slowdown, often through spending or tax cuts.