In Analyzing Macroeconomic Data During the Past Year,you Have Discovered

question 36

Multiple Choice

In analyzing macroeconomic data during the past year,you have discovered that average labor productivity fell,but total output increased.What was most likely to have caused this?

• A)There is nothing unusual in this outcome because this is what normally occurs.
• B)The capital-output ratio probably rose.
• C)There was an increase in labor input.
• D)Unemployment probably increased.

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Definitions:

Market Forecast

The projection or estimation of future market trends, sizes, and characteristics based on current and historical data.

Sales in An Industry

The total volume or value of all products or services sold within a specific industry over a certain period.

Future Sales

Projected revenue from selling goods or services over a future period.

Bottom-Up Budgeting

A budgeting approach where individual departments or units estimate their own expenses and revenues, which are then compiled to create an overall organizational budget.