Examlex
A compensating balance is often required by a bank as a condition for granting a loan.
Per-Worker Production Function
A mathematical relation showing the output produced per worker as a function of the level of capital per worker, holding technology constant.
Output Per Worker
The average amount of goods or services produced by an employee in a given period, indicating labor productivity.
Current Technology
Current technology refers to the latest or most advanced technological innovations, tools, and practices available for use in various industries or activities.
Technological Improvement
The process of innovation where better technologies make production more efficient, leading to higher output with the same input.
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