From 1973 to 1995, Productivity of Labor in the U

question 31

Multiple Choice

From 1973 to 1995, productivity of labor in the U.S.

• A)declined because of reduced capital formation.
• B)declined because of slower technological improvement.
• C)increased because of expanded technological improvement.

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Definitions:

Basic Principle

A fundamental rule or concept that forms the foundation of a system, theory, or idea.

Tradeoff

An occurrence where obtaining a new quality or feature necessitates the relinquishment of another.

Pollution Reduction

The process or activities aimed at decreasing the amount of pollutants released into the environment.

Economics

The social science that studies the production, distribution, and consumption of goods and services, focusing on how individuals, businesses, governments, and nations make choices on allocating resources.