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Rising Labor Productivity Means That Less Labor Is Needed to Produce

question 114

True/False

Rising labor productivity means that less labor is needed to produce the same level of output.

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Definitions:

Business Actions

Decisions or movements made by a company or organization in pursuit of its business goals and objectives, including strategic planning, operations, and reactions to market changes.

Individual Liberty

The rights and freedoms of individuals to act and express themselves freely, without undue interference or restriction.

Unions

Organizations formed by workers from related sectors to collectively bargain with employers over wages, benefits, and working conditions.

Voluntary Organizations

Groups or associations that operate without governmental influence, formed freely by individuals to pursue shared goals or interests.

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