Which of the Following Best Explains Productivity

question 132

Multiple Choice

Which of the following best explains productivity?

• A)Productivity is equal to nominal GDP per person.
• B)Productivity is equal to real GDP per person.
• C)Productivity is the quantity of goods or services that a worker can produce in one hour.
• D)Productivity is the growth rate of real GDP per person.

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Definitions:

Days' Sales in Inventory

A financial metric that indicates the average number of days it takes for a company to turn its inventory into sales.

Erratic Changes in Costs

Sudden and unpredictable fluctuations in the cost of materials, labor, or other operational expenses.

Inventory Valuation

The method used to assess the cost or market value of inventories at hand for financial reporting purposes.

Cost of Goods Available for Sale

The total cost of goods produced or purchased and ready for sale during a specific period, including beginning inventory plus purchases or manufacturing costs.