If Output Grew 3

question 61

Multiple Choice

If output grew 3.9 percent last year and hours worked grew 1.3 percent,then by how much did labor productivity grow over the year?

• A)0.3 percent
• B)2.6 percent
• C)3.0 percent
• D)5.2 percent

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Definitions:

Additional Investments

Funds or assets that an investor or business owner contributes to a business beyond the initial investment, to support operations or expansion.

Net Loss

The amount by which total expenses exceed total revenues in a given period, indicating financial loss.

Accounts Payable

Liabilities to suppliers or creditors for goods, supplies, or services purchased on credit.

Owner's Capital

The amount of equity a business owner has invested in the company, representing the owner's claim against the assets of the business.