Edward Denison Found That Labor's Contribution to Output Growth in the United

question 40

Multiple Choice

Edward Denison found that labor's contribution to output growth in the United States since 1929 was attributable to all the factors below EXCEPT

• A)rising population.
• B)an increase in the percentage of the population in the labor force.
• C)an increase in the number of hours worked per person.
• D)higher educational levels.

---

Definitions:

Budgeted Financial Statements

Financial statements projected for a future period, based on estimates of revenues, expenses, and other financial activities.

Operating Budgets

Detailed projections of income and expenses associated with the day-to-day operations of a business over a certain period.

Budgeted Balance Sheet

A projection of a company’s financial position at a future date, including assets, liabilities, and equity, based on expected financial activities.

Sales Budget

An estimate of the expected sales revenue and the allocation of resources needed to achieve these sales over a specific period.