The Rate of Labor-Augmenting Technological Progress (G) Is the Growth

question 61

Multiple Choice

The rate of labor-augmenting technological progress (g) is the growth rate of:

• A) labor.
• B) the efficiency of labor.
• C) capital.
• D) output.

Calculate and interpret the break-even point in units and in sales dollars.

Estimate net operating income based on given sales data and fixed and variable expense structures.

Understand the effect of changes in selling price, variable costs, fixed costs, and sales volume on net operating income.

Determine and evaluate the margin of safety in both percentage and dollar terms.

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Definitions:

Data Items

Individual units of data, such as variables or constants, used in programming to store values.