Labor Productivity Increases When

question 174

Multiple Choice

Labor productivity increases when

• A) the average number of hours people work goes up.
• B) the unemployment rate decreases.
• C) the average output produced per worker during a specified time period increases.
• D) the average output produced per worker during a specified time period decreases.

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Definitions:

360-Day Year

A conventional method in finance for simplifying interest calculations, assuming a year has 360 days.

Finance Company

A business that provides loans to individuals and companies, aside from traditional banking institutions, often specializing in certain types of loans.

Discounted

refers to a price that has been reduced from the original or list price, often to encourage sales or clear inventory.

Maturity Value

The amount payable to the holder of a financial instrument upon its maturity, including both the principal and the interest.