Suppose a Country Experiences an Increase in Output Per Worker

question 157

Multiple Choice

Suppose a country experiences an increase in output per worker. Such a development represents which of the following?

• A) a decrease in economic growth
• B) an increase in labor productivity
• C) a reduction in the saving rate
• D) an increase in population growth

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Definitions:

Unilateral Mistake

A situation where only one party to a contract is mistaken about a fundamental aspect of the contract, affecting the agreement's validity.

Original Party

The initial entities or individuals who entered into a contract or agreement.

Assignee

An assignee is a person or entity appointed to receive the rights or property under a contract or agreement from another, known as the assignor.

Assignor

The party in a contract who transfers their rights or interests in a property or agreement to another party, known as the assignee.