ECONOMICS
ECONOMIC GROWTH
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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output per employed worker
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the output of the best workers
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the output of the median worker
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calories in vs calories out, you can’t explain that mr lowe
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Detailed explanation-1: -To calculate a country’s labor productivity, you would divide the total output by the total number of labor hours.
Detailed explanation-2: -To measure labor productivity we prefer to compare the number of hours worked to the output produced during that time. Some countries, including the United States, collect data on hours worked, making it possible to measure output per hour worked.
Detailed explanation-3: -Labour productivity is the measure of how much output is produced per unit of labour input, for instance, per worker. Higher productivity means that a business produces more output for each worker it employs. Productivity is important because it is a key determinant of living standards in the long term.
Detailed explanation-4: -Calculating Labor Productivity Overall employee labor productivity is calculated by dividing the goods and services produced by the total hours a company’s employees during a certain period of time.