In a Particular Country in 1999,the Average Worker Had to Work

question 4

Multiple Choice

In a particular country in 1999,the average worker had to work 20 hours to produce 55 units of output.In that same country in 2009,the average worker needed to work 28 hours to produce 77 units of output.In that country,the productivity of the average worker

• A)increased by 2 percent between 1999 and 2009.
• B)increased by 5 percent between 1999 and 2009.
• C)remained unchanged between 1999 and 2009.
• D)decreased by 3 percent between 1999 and 2009.

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Definitions:

Consideration

In contract law, consideration refers to something of value exchanged between parties as part of an agreement.

Preexisting Duty

A duty that already exists under contract law, which cannot be used as consideration for a new promise or contract.

Contract

A legally enforceable agreement between two or more parties with mutual obligations.

Consideration

The value (which could be in the form of goods, services, or money) exchanged between parties in a contract, making the agreement legally binding.