Average Labor Productivity Is Determined By

question 16

Multiple Choice

Average labor productivity is determined by:

• A)consumption, investment, government spending, and net exports.
• B)the number employed, unemployed, and the labor force participation rate.
• C)the quantity and quality of human capital, physical capital, technology, natural resources, entrepreneurship, and the legal and political environment.
• D)the real interest rate, the nominal interest rate, and the rate of inflation.

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Definitions:

\(n ^ { 2 }\)

A notation denoting a number "n" raised to the power of 2, representing the square of n.

\(n ^ { 3 }\)

Refers to cubing a number, which is raising a number to the power of three or multiplying the number by itself twice.

\(8 !\)

The factorial of 8, which is the product of all positive integers less than or equal to 8, calculated as \(8 \times 7 \times 6 \times 5 \times 4 \times 3 \times 2 \times 1\).

\(11 !\)

Denotes the factorial of 11, which is the product of all positive integers from 1 to 11, calculated as \(11! = 11 \times 10 \times 9 \times ... \times 1\).