Labor Productivity Is Defined as

question 188

Multiple Choice

Labor productivity is defined as

• A) the amount of output per worker.
• B) the amount of input per worker.
• C) the amount of workers per unit of input.
• D) the increase in output per unit of machinery.

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Definitions:

Bootstrap

A statistical method involving resampling with replacement to estimate properties or accuracy of a model.

Standard Error

A statistical measure that quantifies the amount of variability or dispersion for a sample statistic from the population parameter.

Sample Means

The average of values obtained from a sample, which is a subset of a larger population.

Bootstrap

A statistical method that resamples a single dataset to create many simulated samples, used for estimating the distribution of a statistic.