The Efficiency of Labor Is a Term That Does Not

question 1

Multiple Choice

The efficiency of labor is a term that does not reflect the:

• A) high output that comes from labor cooperating with a large amount of capital.
• B) health of the labor force.
• C) education of the labor force.
• D) skills of the labor force acquired through on-the-job training.

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Definitions:

Say's Law

A principle that asserts that supply creates its own demand, meaning production of goods will naturally lead to their consumption.

Income

Funds acquired frequently, either from performing work or via investment profits.

Production

The method of producing goods and services by mixing labor, materials, and technology.

Savings

Money set aside from current income for future use, often to accumulate wealth or for specific future expenditures.