The productivity of workers is defined as the
A. total output produced by the labor force.
B. output produced by a worker per hour.
C. number of workers needed to produce one day's volume of output.
D. number of hours a worker spends at work.
Answer: B
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The Ricardo-Barro effect says that a government budget deficit leads to
A) no change in the real interest rate. B) a lower real interest rate. C) an increase in the quantity of investment. D) a higher real interest rate. E) an increase in demand for loanable funds.
The increase in output that is generated by an additional unit of input is called the:
A. input-output relationship. B. production function. C. marginal product. D. resource product.
The concerns about the 2009 $787 billion stimulus by the Obama Administration were that
a. it was too small. b. it was too large. c. it was not well designed. d. Some economists opposed any stimulus whatsoever. e. All of the above.
Describe the three pillars of productivity growth.
What will be an ideal response?