In Measuring the Total Factor Productivity of an Organization,which of the Following

question 109

Multiple Choice

In measuring the total factor productivity of an organization,which of the following is a measure of labor's contribution to output production?

• A) The amount of raw materials consumed
• B) The number of units of energy consumed
• C) The number of hours worked
• D) The number of kilowatt-hours consumed
• E) The number of machineries used

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Definitions:

Price Floor

A minimum price set by the government or a regulatory body, below which a good or service cannot legally be sold.

Wheat

A cereal grain that is a staple food globally, used for a variety of food products, including bread, pasta, and pastry, due to its versatility and nutritional value.

Surplus

An excess of supply over demand in a market, typically leading to lower prices.

Price Floor

A government or group-imposed price control that sets the minimum allowed price for a particular good or service, intended to ensure fair conditions for producers.