Labor Productivity Is Measured by the Average Product of Labor;

question 64

Multiple Choice

Labor productivity is measured by the average product of labor; i.e.,the quantity produced divided by the labor time required to produce it.All other things held constant,an increase in labor productivity will increase throughput by

• A)increasing productive capacity.
• B)increasing productive processing time.
• C)increasing yield.
• D)increasing all components of throughput.

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Definitions:

Annual Contributions

Regular payments made into a retirement account, investment fund, or savings plan on a yearly basis.

Compounded Semi-annually

The calculation of interest on the initial investment plus any accumulated interest from previous periods, done twice a year.

Retirement Fund

A pool of funds accumulated during an individual's working life, intended to provide financial security upon retirement.

Invest

To allocate money in the expectation of some benefit in the future, such as income or profit.