Which of the Following Is True About Labor Productivity

question 10

Multiple Choice

Which of the following is true about labor productivity?

• A)it is the amount of total factor productivity (TFP)per unit of labor
• B)it is more difficult to measure than TFP
• C)it is a more general and better measure of productivity than TFP
• D)all of the above
• E)none of the above

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Definitions:

Money Market

A section of the financial market where short-term financial assets with high liquidity are traded.

Interest Rate

The amount charged by lenders as a percentage of the principal, or the amount earned on deposits over a specified period.

Equilibrium Value

The point at which the quantity of a good or service demanded equals the quantity supplied, resulting in market stability.

Opportunity Cost

Whatever must be given up to obtain some item.