Between 1975 and 1993,most of the Increase in Productivity in the United

question 9

Multiple Choice

Between 1975 and 1993,most of the increase in productivity in the United States was due to

• A)increases in the amount of hours worked,which caused the production function to shift up.
• B)increases in technology,which caused the productivity function to shift up.
• C)the productivity function shifting because of growth in capital.
• D)increases in capital per hour worked,which caused a movement along the productivity function.
• E)increases in technology,which caused a movement along the productivity function.

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Definitions:

Joint Costs

Costs that are incurred in the process of producing two or more products or services simultaneously and are not readily assignable to individual products.

Inventory Valuation

The method used by businesses to assess the value of their inventory, taking into account the cost of acquiring or producing the goods and any market changes.

Profitability of Joint Products

The assessment of earnings from products that are produced simultaneously from the same process and cannot be distinguished cost-wise until a certain point of production.

Qualitative Factors

Qualitative factors are non-numeric variables or considerations that affect decision-making, such as company reputation or customer satisfaction.