producing more output from the same amount of inputs

What does multifactor productivity consider

Output in relation to all inputs

the size of the labor force multiplied by the length of the workweek

What is human capital?

A worker’s skills, knowledge, and experience

Technological innovations

Advancements that increased manufacturing efficiency.

What are natural resources?

Things that come from nature that are people use for different reasons.

the long run increase in national output

Real GDP per Capita measures

Real Growth per person in an economy

the process of increasing the amount of capital per worker

Information Technology focuses on:

hardware, software, multimedia & system integration services

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Ch.-12-sec.-3-

13 termsStudBud Administration17 plays

Stimulating Economic Growth

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Questions 13

Answers

1
Productivity means
Producing a certain amount of goods
The provision of services
gaining possession of something
producing more output from the same amount of inputs
2
How is productivity measured?
Input/Output
Output/Input
3
What does multifactor productivity consider
Output per worker over time
Output in relation to all inputs
Capacity utilization
Capital intensity
4
Labor input
the real gross domestic product divided by total population
an increase in the ratio of capital to labor
economic output and its labor and capital inputs.
the size of the labor force multiplied by the length of the workweek
5
What is human capital?
the quantity of a company’s equipment
Investment in new technology
A worker’s skills, knowledge, and experience
Immigration of people into a country
6
Real GDP per capita =
nominal GDP/income
nominal GDP/population
real GDP/income
real GDP/population
7
Technological innovations
Advancements that increased manufacturing efficiency.
1815 meeting to restore European monarchies.
Fundamental rights inherent to all individuals.
Transition to large-scale manufacturing and factory systems.
8
What are natural resources?
Things you buy from the store.
Things that come from nature that are people use for different reasons.
Things that are big.
Things that help you learn.
9
Economic Growth is
achieved when unemployment is zero
the long run increase in national output
the same as an expansion in the business cycle
the natural result of the end of a recession
10
Real GDP per Capita measures
Nominal Growth per person in an economy
Nominal levels of spending
Inflation per head
Real Growth per person in an economy
11
capital deepening
the process of increasing the amount of capital per worker
income not used for consumption
saving rate
saving
12
Productivity and economic growth are directly related
True
False
13
Information Technology focuses on:
repairing and installing computers
developing new computer applications
hardware, software, multimedia & system integration services

Ch.-12-sec.-3- Flashcards | StudBud