Labor Productivity Growth Can Be Attributed To

question 176

Multiple Choice

Labor productivity growth can be attributed to:

• A) improvement in technology.
• B) a decline in university attendance.
• C) an increase in population growth.
• D) a decline in the physical capital per worker.

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Definitions:

Sales Returns And Allowances

A reduction in sales revenue resulting from customers returning goods or receiving discounts for faulty or unsatisfactory products.

Sales Tax Payable

An account responsible for tracking the sales tax gathered from buyers, due to be paid to the authorities.

Accounts Receivable

Funds that customers owe to a business for goods or services already provided but not yet compensated for.

Sales Tax Payable

A liability account that accumulates the collected sales tax from customers to be remitted to the respective tax authorities.