In a Particular Country in 1999,the Average Worker Had to Work

question 4

Multiple Choice

In a particular country in 1999,the average worker had to work 20 hours to produce 55 units of output.In that same country in 2009,the average worker needed to work 28 hours to produce 77 units of output.In that country,the productivity of the average worker

• A)increased by 2 percent between 1999 and 2009.
• B)increased by 5 percent between 1999 and 2009.
• C)remained unchanged between 1999 and 2009.
• D)decreased by 3 percent between 1999 and 2009.

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Definitions:

Bushels

A unit of volume that is used in the United States for measuring agricultural commodities.

Swap Contract

A financial agreement where two parties exchange liabilities or cash flows from two different financial instruments.

Specified Cash Flows

Cash flows that are detailed or determined for specific activities, projects, or investments.

Exchange

A marketplace where securities, commodities, derivatives, and other financial instruments are traded.