If Total Output in an Economy Is $600,000 and the Total

question 74

Multiple Choice

If total output in an economy is $600,000 and the total number of worker-hours in the economy is 40,000,labour productivity is

• A) $7.
• B) $9.
• C) $13.
• D) $15.
• E) $18.

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Definitions:

Invoices

Documents issued by a seller to a buyer that specify the goods or services provided, their prices, and payment terms.

Cash Refunds

Payments returned to purchasers in cash, typically due to returns, overpayments, or as a reward for loyalty or incentives.

Cash Receipts

The total amount of cash collected by a business from all sources during a given period.

Bank Deposits

Funds that individuals or entities place into a banking institution's account for safekeeping, which can include savings, checking, and time deposits.