An Increase in Labor Productivity

question 196

Multiple Choice

An increase in labor productivity

• A)increases the standard of living.
• B)decreases the standard of living.
• C)might be the result of an increase in the quantity of labor.
• D)generally occurs when physical capital decreases because firms must then hire more workers.
• E)cannot occur without a corresponding increase in employment.

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Definitions:

Retailer and Distributor

Involved in the distribution process, with retailers selling goods directly to consumers and distributors serving as intermediaries who move products from manufacturers to retailers or other businesses.

Customer Order Entry

A system or process that captures and records customer requests for goods or services.

Order Accuracy

The degree to which completed orders correctly match the initial specifications or requests in terms of quantity, type, and quality.

Customer Order Fulfillment

The process of receiving, processing, and delivering orders to customers, ensuring their requirements are met timely and accurately.