John and Miguel are fishermen. When they go fishing, John consistently catches 2 or 3 fish per hour, while Miguel consistently catches 5 or 6 fish per hour. Miguel's __________ exceeds that of John
Fill in the blank(s) with correct word
productivity
You might also like to view...
Why does the labor market have more than one equilibrium wage rate?
a. Workers differ in their productivities. b. Productivity of workers increases initially but later declines. c. The labor demand curve is backward bending. d. Marginal revenue product of different inputs used by firms vary. e. Employers compete among themselves to hire the best workers.
Which of the following is true of the present value of an investment?
a. The higher the rate of interest the higher will be the present value of an investment. b. Present value of an investment is an increasing function of the time period of investment. c. The longer the time period of investment the lower will be its present value. d. Present value falls less than proportionately with the length of the delay in payment.
Fixed investment includes all of the following except:
a. all purchases by businesses that add to their inventories b. all spending on capital goods. c. all spending on producer goods. d. all spending on goods that increase future production capabilities.
The current unionization rate for the U.S. labor force
A. Reflects the relative decline in U.S. manufacturing. B. Has increased due to the growth of the service sector. C. Is above 20 percent. D. Has been rising since the mid