A Basis Point Is Equal to

question 73

Multiple Choice

A basis point is equal to

• A) one percent.
• B) one-tenth of one percent.
• C) one-hundredth of one percent.
• D) one-half of one percent.

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Definitions:

Productivity

The efficiency at which goods or services are produced, often measured by the output per worker or per hour worked.

Output Per Acre

A measure of agricultural productivity, calculated as the total production of a crop divided by the number of acres used to grow that crop.

MRP Curve

The Marginal Revenue Product curve reflects the added revenue generated by one additional unit of input in the production process.

Labor

The exertion of mental and physical capabilities by individuals in creating goods and services.