Which of the Following Is True About Labor Productivity

question 13

Multiple Choice

Which of the following is true about labor productivity?

• A)it is the amount of output produced per unit of labor
• B)it is easier to measure than total factor productivity (TFP)
• C)it is more commonly mentioned in the media than total factor productivity (TFP)
• D)all of the above
• E)none of the above

---

Definitions:

Bounded Rationality

The concept that when individuals make decisions, their rationality is limited by the information they have, the cognitive limitations of their minds, and the finite amount of time they have to make a decision.

Political Acceptability

The degree to which a policy, action, or decision is considered acceptable by political entities and the general public.

Organizational Members

Individuals who are part of a company or institution and contribute to its goals and culture.

Maximization

The choice of the decision alternative with the greatest expected value.