Answer the following statements true (T) or false (F)
1. Productivity equals inputs divided by outputs.
2. If a manager increases the efficiency of labor but makes no improvements to the efficiency of capital, an increase in productivity will result.
3. Lumber mills that sell sawdust and wood chips are increasing their efficiency of labor and thereby improving productivity.
4. Raising productivity contributes to an increasing gross domestic product in the United States.
1. FALSE
Productivity is defined by the formula of outputs divided by inputs for a specified period of time.
2. TRUE
You can increase overall productivity by making substitutions or increasing the efficiency of any one element: labor, capital, materials, and energy.
3. FALSE
You can increase the efficiency of materials inputs by expanding their uses, as when lumber mills discovered they could sell not only boards but also sawdust and wood chips for use in gardens.
4. TRUE
The more goods and services that are produced and made easily available to us and for export, the higher our standard of living. Increasing the gross domestic product, which is the total dollar value of all the goods and services produced in the United States, depends on raising productivity, as well as on a growing workforce.
You might also like to view...
An RFP should set the stage for an effective and uniform review process by? __________________.
Fill in the blank(s) with the appropriate word(s).
On January 1, Year 1, Friedman Company purchased a truck that cost $48,000. The truck had an expected useful life of 8 years and an $8,000 salvage value. Friedman uses the double-declining-balance method. What is the book value of the truck at the end of Year 1?
A. $38,000 B. $43,000 C. $40,000 D. $36,000
Plimpton Sales presents income statements for the first three months of this year
Revenues are $1,000,000 in January, $1,200,000 in February, and $1,400,000 in March, while expenses total $800,000 in January, $900,000 February, and $1,000,000 in March. Despite the positive net income, the controller believes Plimpton Sales needs to arrange short-term financing of $300,000 to make payroll the next month. Which of the following statements is MOST correct? A) The controller must have made a mistake since the company's net income for the three months is $900,000. B) The company's accounts receivable balance has increased and the accounts payable balance has decreased over the past three months. C) The company's accounts receivable balance has decreased over the past three months. D) The company's accounts payable balance has increased over the past three months.
Answer the following statement(s) true (T) or false (F)
Because corporate law makes it difficult for businesses to consider employee, community, and environmental interests in their decision making, the B corporation has been introduced.