Labour Productivity May Best Be Defined As

question 54

Multiple Choice

Labour productivity may best be defined as:

• A)total output/worker-hours.
• B)nominal GDP minus real GDP.
• C)the ratio of real capital to worker-hours.
• D)the annual increase in nominal GDP per worker.

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Definitions:

Tax Liability

The total amount of tax owed to governmental authorities.

Withdraw

The act of removing funds from an account, or taking back an offer or statement.

Investment

The allocation of resources with the expectation of generating an income or profit.

Present Value

The value today of a sum of money or sequence of cash flows expected in the future, calculated using a designated interest rate.