The Ratio of a Firm's Monthly Output to the Number

question 53

Multiple Choice

The ratio of a firm's monthly output to the number of labor hours used in the same month would be a measure of

• A)labor productivity.
• B)capital productivity.
• C)machine productivity.
• D)multifactor productivity.

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Definitions:

Earnest

Serious in intention, purpose, or effort; sincerely zealous.

Sale of Goods Act

Legislation that regulates the sale of goods, ensuring rights, obligations, and remedies in commercial transactions, making sure products sold are as advertised and fit for purpose.

Bankruptcy

A legal status of a person or entity that cannot repay the debts it owes to creditors, leading to a legal process aimed at resolving the financial issues under the bankruptcy laws.

Sale of Goods Act

Legislation that governs the sale of goods, ensuring rights, responsibilities, and protections for both buyers and sellers.