Labor Productivity Rises

question 50

Multiple Choice

Labor productivity rises

• A) if the amount of capital per worker increases.
• B) in the absence of technological progress.
• C) if firms invest in hiring more workers rather than buying more capital.
• D) if the amount of capital per worker decreases.

Calculate the middle 50% of a data set using quartiles.

Recognize and interpret box plots and their significance in data analysis.

Assess the impact of outliers on summary statistics and data distribution.

Differentiate between quantitative and categorical variables.

---

Definitions:

Trade with Indians

The exchange of goods, services, and commodities between European settlers and Native American tribes during the exploration and colonization periods.

Indentured Servitude

A labor system wherein young people paid for their passage to the New World by working for an employer for a certain number of years.

African Slave Labor

The forced labor of African people, transported mainly to the Americas, used predominantly in plantation, mining, and domestic work from the 16th to the 19th centuries.

Labor Shortages

Situations where there are insufficient workers to fill the employment needs in certain industries, often leading to increased wages and recruitment efforts.