One Way to Achieve Faster Growth in GDP Per Person

question 272

Multiple Choice

One way to achieve faster growth in GDP per person is to increase the

• A)number of women working in the home rather than in the workforce.
• B)growth rate of the quantity of money.
• C)growth rate of human capital.
• D)growth rate of the population.
• E)limits on international trade in order to keep more of total spending on domestically produced goods.

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Definitions:

Salvage Value

The estimated resale value of an asset at the end of its useful life, after depreciation has been taken into account.

Labor Costs

The total amount of compensation, including wages, salaries, and benefits, paid to employees for their work.

Allocated Fixed Costs

Costs that remain constant for a specific period regardless of the level of production or business activity, which are distributed across different departments or products.

Variable Departmental Costs

Costs that vary directly with the volume of output or level of activity within a specific department.