If Productivity of an Economy Increases Then

question 122

Multiple Choice

If productivity of an economy increases then:

• A)​the amount of goods and services produced by a worker per hour increases.
• B)​the labor force increases.
• C)​the real GDP per capita decreases.
• D)​the labor force decreases.

Comprehend the effects of complementary and substitute goods on market dynamics.

Analyze the impact of external factors such as technology, income, and consumer preferences on market equilibrium.

Grasp the principles of excess supply (surplus) and excess demand (shortage) and how they lead to adjustments in market prices.

Recognize the role of production costs and factor inputs on the supply side of the market.

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