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Economics
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Productivity is defined as:

A. the amount of total output of goods and services produced in the economy per year

B. total expenditure by all consumers

C. the output per worker per hour

D. the amount of economic output and expenditure.

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Yusra Anees
Yusra AneesLv10
22 Dec 2020
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Related questions

 Labor productivity is defined as

A) the amount of output per worker.

B) the amount of input per worker.

C) the amount of workers per unit of input.

D) the increase in output per unit of machinery.

Can you help me find the solution to this question?





Consider an economy that initially has a labor force of2000workers. Of these workers, 1900 are employed and each works40hours per week. Ten units of output are produced by each hour of labor.

(a) What is the total number of hours worked per week in the economy? What is the total output per week in the economy? What is labor productivity per hour? What is labor productivity per worker in a week? What is the unemployment rate?



(b) The economy enters a recession. Employment falls by 4% and the number of hours per week worked by each employed worker fallsby2.5%. Also, 0.2% of the labor force becomes discouraged at the prospect of finding a job and leaves the labor force. Finally, suppose that whenever total hours fall by 1%, total output falls by1.4%. During the recession, what is the size of the laborforce? How many workers are unemployed and what is the unemployment rate? What is the total output per week in the economy? What is labor productivity per hour? What is labor productivity per worker ina week?

Select the best definition of labor productivity

a. Capital per worker

b. Output per worker and output per capita

c. Output per capita

d. Output per worker and capital per worker

e. Output per worker

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