Labor Productivity Is Calculated as

question 318

Multiple Choice

Labor productivity is calculated as

• A)(real GDP ÷ aggregate hours).
• B)(real GDP ÷ aggregate hours × number of workers).
• C)(real GDP ÷ number of workers × ratio of capital per worker).
• D)(real GDP ÷ technology level).
• E)(real GDP ÷ aggregate hours × number of workers)× 100.

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Design Patent

A form of legal protection granted to the ornamental design of a functional item, preventing others from making, using, or selling the design.

Machine

A device or apparatus designed to perform a specific task, often powered by electricity, mechanical force, or manual effort.

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The process of producing goods and products in large quantities using machinery, labor, and other resources.