Labour Productivity Is Found by

question 103

Multiple Choice

Labour productivity is found by

• A)the net domestic product.
• B)dividing the value of total domestic output (GDP)by the number of workers.
• C)the size of the labour force divided by total real GDP.
• D)the rate of capital accumulation.

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Definitions:

Curve

In economics, a curve often represents graphical data showing relationships between two variables, such as supply and demand or price and quantity.

Production

The process of creating goods and services, from the input of resources to the output of finished products.

Price Level

The average of the current prices of goods and services in the economy, often compared over time to assess inflation.

Equilibrium GDP

The level of real GDP at which aggregate supply equals aggregate demand, resulting in a stable economy without tendencies to change.