The Same Amount of Outputs Produced with Less Inputs Is

question 6

Multiple Choice

The same amount of outputs produced with less inputs is a(n) :

• A) increase in production with no change in productivity.
• B) increase in productivity.
• C) decrease in production with no change in productivity.
• D) decrease in productivity.

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Definitions:

GDP

Gross Domestic Product, a total market value of all finished goods and services produced within a country in a given period.

Real GDP

The total value of all goods and services produced within a country's borders, adjusted for inflation, over a specific period.

Literacy

The ability to read and write at a level sufficient for communication and understanding of text.

Seasonality

Periodic fluctuations in economic or financial activity that recur with similar intensity during the same season of each year.