Our Measurement of Output Per Worker Is Called

question 103

Multiple Choice

Our measurement of output per worker is called:

• A) productivity.
• B) production growth rate.
• C) nominal output.
• D) None of these is true.

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Definitions:

Imports

Products or resources that are bought from foreign countries to meet domestic demand or consumption.

U.S. Exports

Goods and services produced in the United States and sold to other countries.

Deflation

A decrease in the general price level of goods and services, often indicating a contraction in the overall economy.

Real Output

The quantity of goods and services produced in an economy, adjusted for inflation, representing true productivity.