Use the Following to Answer Questions

question 284

Multiple Choice

Use the following to answer questions :
Scenario: Productivity
The economy has grown by 4% per year over the past 30 years. During the same period the labor force has grown by 1% per year and the quantity of physical capital has grown by 5% per year. Each 1% increase in physical capital per worker is estimated to increase productivity by 0.4%. Assume that human capital has not changed during the past 30 years.
-(Scenario: Productivity) Look at the scenario Productivity. How fast has physical capital per worker grown?

• A)5%
• B)4%
• C)3%
• D)2%

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Definitions:

Organizational Politics

The use of power and social networking within an organization to achieve changes that benefit the individual or a group.

Management

The process of dealing with or controlling things or people within an organization.

Groupthink

A psychological phenomenon wherein the desire for conformity within a group results in an irrational or dysfunctional decision-making outcome.

Cohesive

Referring to the property of an element or group to stay together tightly and function in a unified manner.