In the Long Run,increases in Output Per Person Arise Primarily

question 89

Multiple Choice

In the long run,increases in output per person arise primarily from

• A) increases in female labour force participation.
• B) increases in male labour force participation.
• C) an increasing proportion of the population retiring.
• D) a decreasing proportion of the population retiring.
• E) increases in average labour productivity.

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Definitions:

Chain Restaurants

Restaurants that are part of a brand or franchise, featuring standardized menu items and decor, and operated by a single company or franchisees across multiple locations.

Labor Dependent

Industries or activities heavily reliant on human labor as a primary input or resource for production.

Monopolistic Competitor

A firm in a market structure where many companies sell products that are similar but not identical, leading to non-price competition.

Revenue-And-Costs

The financial inflows associated with business operations and the expenditures required to generate revenue.