Labor Productivity Can Increase Even If the Labor Force Decreases

question 114

True/False

Labor productivity can increase even if the labor force decreases.

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Definitions:

Union Wages

Wages that are negotiated by labor unions on behalf of their members, typically resulting in higher pay and better benefits compared to non-union wages.

Union Jobs

Positions of employment that are represented by a labor union, offering workers collective bargaining rights with their employers regarding wages, benefits, and working conditions.

Allocation Of Labor

The distribution of labor resources among different tasks, jobs, or industries to maximize efficiency or output.