Whenever Average Output Produced Per Worker During a Specific Time-Period

question 164

Multiple Choice

Whenever average output produced per worker during a specific time-period increases, then

• A) leisure time increases.
• B) nominal GDP decreases.
• C) labor productivity increases.
• D) the standard of living goes down.

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Definitions:

Farm Subsidies

Financial aid and support programs provided by governments to help farmers reduce the risk of farming, ensuring a stable food supply.

Direct Payments

Cash transfers from governments to individuals or businesses for specific purposes, often used in agricultural subsidies or social welfare programs.

Agricultural Price Supports

Government interventions to stabilize or increase agricultural commodity prices through mechanisms such as subsidies, minimum price settings, or purchasing surplus.

Large-Scale Farmers

Farmers who operate extensive areas of land and generally engage in high-volume production of crops or livestock.