Question

The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as

Select one:
a. technology.
b. human capital.
c. labor productivity.
d. real GDP.

Which of the following increases labor productivity?

Select one:
a. a decline in the health of the population
b. inventions of new machinery, equipment, or software
c. decreases in the availability of computers and factory buildings
d. an increase in the aggregate hours of work

The total amount of physical capital available in a country is know as the country's

Select one:
a. savings.
b. capital stock.
c. investment.
d. labor productivity.

What two factors are the keys to determining labor productivity?

Select one:
a. the average level of education of the workforce and the price level
b. the business cycle and the growth rate of real GDP
c. technology and the quantity of capital per hour worked
d. the growth rate of real GDP and the interest rate

Answer 1

1) The quantity of goods and services that can be produced by one worker or by one hour of work is referred to as labor productivity.

2) Labor productivity is increased invention of new machinery, equipment or software. Decline in the health of the population and decreases in the availability of computers and factory buildings reduces labor productivity.

3) The total amount of physical capital available in a country is know as the country's capital stock.

4) The two factors that determine labor productivity are technology and the quantity of capital per hour worked.