Labor Productivity Measures

question 36

Multiple Choice

Labor productivity measures

• A)input per unit of labor
• B)output per unit of labor
• C)average input per unit of labor
• D)units of capital per unit of labor
• E)output per unit of capital

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Definitions:

Artificially Scarce Good

A product or service whose availability is limited by means other than natural scarcity, often due to artificial constraints like monopolistic practices or government regulation.

iTunes

A media player, media library, Internet radio broadcaster, and mobile device management application developed by Apple Inc.

Public Good

A product that is non-excludable and non-rivalrous, meaning it can be used by many people simultaneously without diminishing its availability to others.

Police Services

Essential public services provided by the police force, including maintaining law and order, preventing crime, and ensuring public safety.