Asked by
Joahna Bartolome
on Dec 12, 2024Verified
Which of the following is true about earnings and productivity?
A) When workers are more productive, the demand for their services will be higher.
B) In order to earn a large income, one must provide large benefits to others.
C) High productivity (a large output per hour worked) is the key to high earnings for both individuals and countries.
D) All of the above are true.
Productive
The efficiency with which inputs (such as labor and capital) are converted into outputs (goods and services).
Large Income
Substantial earnings or revenue, typically considerably higher than the average income, affording a high standard of living.
High Productivity
Indicates a significant output or efficiency in production or performance relative to the input of resources, time, or labor.
- Gain insight into how technological improvements impact labor efficiency and economic performance.
Verified Answer
LG
Learning Objectives
- Gain insight into how technological improvements impact labor efficiency and economic performance.