In a Particular Country in 1998, the Average Worker Needed

question 110

Multiple Choice

In a particular country in 1998, the average worker needed to work 25 hours to produce 40 units of output. In that same country in 2008, the average worker needed to work 40 hours to produce 68 units of output. In that country, the productivity of the average worker

• A)decreased by 1.7 percent between 1998 and 2008.
• B)remained unchanged between 1998 and 2008.
• C)increased by 4.75 percent between 1998 and 2008.
• D)increased by 6.25 percent between 1998 and 2008.

---

Definitions:

Notes

A financial document representing an agreement for a borrower to pay back a lender according to specified terms, often detailing the interest rate, repayment schedule, and maturity date.

Balance Sheet

A financial statement that displays a company's financial position at a certain date, showing assets, liabilities, and shareholders' equity.

Net Loss

Occurs when a company's expenses exceed its revenues during a specific period, leading to a negative profit.