If a Manager Increases the Efficiency of Labor but Makes

question 49

True/False

If a manager increases the efficiency of labor but makes no improvements to the efficiency of capital, an increase in productivity will result.

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Definitions:

John M. Keynes

A British economist whose ideas fundamentally changed the theory and practice of macroeconomics and the economic policies of governments.

Uncertainty Principle

The Uncertainty Principle, often associated with Werner Heisenberg, posits that the position and momentum of a particle cannot simultaneously be measured with arbitrary precision.

Stare Decisis

The judicial method of resolving disputes by using established cases as a reference.

Articles of Confederation

The first constitution of the United States, ratified in 1781, which established a weak federal government prior to the adoption of the U.S. Constitution.