The Soviet Union's Economy Grew Rapidly in Terms of GDP

question 18

Multiple Choice

The Soviet Union's economy grew rapidly in terms of GDP per hour worked in the 1950s,but eventually this growth slowed.Why did this occur?

• A)Capital per hour worked grew rapidly from 1950 to 1980,but technological change occurred very slowly.
• B)Capital per hour worked grew slowly,but technological change grew very rapidly.
• C)Increasing implementation of new technologies eventually suffered diminishing marginal returns.
• D)The centrally planned economy invested too heavily in technological change.

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Definitions:

Employment Standards

Regulations that define the minimum terms of employment, including hours, pay, leave entitlements, and working conditions.

Minimum Wage Rates

The lowest legal hourly pay that employers can give to workers, as set by government regulations.

Overtime Payments

Compensation paid to employees for working beyond their standard hours, typically at a higher rate.

Compensable Factors

Elements of a job that are used to determine its value and appropriate compensation, such as skills required, effort, responsibility, and working conditions.