Average Consumption in an Economy Is Best Measured by ________

question 145

Multiple Choice

Average consumption in an economy is best measured by ________, while average productivity in an economy is best measured by ________.

• A)total output; output per worker
• B)output per worker; total output
• C)output per person; output per worker
• D)output per worker; output per person

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Definitions:

Assignment

The transfer of rights or property from one party to another.

Delegation

The act of transferring responsibility and authority from one person to another while maintaining accountability for the outcome.

Novation

The act of replacing an obligation to perform with a new obligation, or substituting a new party into an existing contract.

Successive Assignments

The process of transferring rights or duties from one party to another over a series of transactions.