Productivity is defined as the
A)amount of goods and services produced from each unit of labor input.
B)number of workers required to produce a given amount of goods and services.
C)amount of labor that can be saved by replacing workers with machines.
D)actual amount of effort workers put into an hour of working time.
The amount of goods and services produced from each unit of labor input is called
What is the most important factor that explains differences in living standards across countries?
A)the quantity of money
B)the level of unemployment
Almost all variation in living standards is attributable to differences in countries'
A)population growth rates.
C)systems of public education.