If Both Total Employment and Total Output in an Economy

question 39

Multiple Choice

If both total employment and total output in an economy grow by 2 percent each year,then the annual growth in labor productivity in the economy over a decade will be equal to _____.

• A)0 percent
• B)2 percent
• C)10 percent
• D)20 percent
• E)2 percent times the size of the labor force

---

Definitions:

Authorized Common Shares

The maximum number of common stock shares that a corporation is legally permitted to issue, as stated in its articles of incorporation.

Treasury Shares

Shares that were once part of the outstanding shares but were bought back by the company, reducing the amount of stock in the open market.

Sydney Tar Ponds

A hazardous waste site in Canada, notorious for its toxic sludge resulting from the byproducts of steel and iron industries.

Nova Scotia

A Canadian province located on the country's Atlantic coast, known for its maritime history and natural beauty.