Why Is Productivity Important to Countries

question 71

Multiple Choice

Why is productivity important to countries?

• A)Productivity matters because it produces a higher standard of living. 
• B)Greater productivity results in lower wages. 
• C)Productivity increases supply and reduces demand for products. 
• D)Productivity reduces taxation.

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Definitions:

Population Frame

A list or database containing all elements or individuals in the population to be studied, which serves as a reference for sample selection.

Sampling Plan

A Sampling Plan is a detailed outline that specifies how samples will be taken from a population to represent the whole in statistical analysis or quality assurance processes.

Target Population

The specific group of individuals that is the focus of a survey, study, or statistical analysis.

Random Number

A number chosen by a random process for statistical purposes or simulations.