Which of the following is typically used as a measure of average labor productivity?

Choose 1 answer:
(A) Capital per worker
(B) Output per capita
(C) Technology per worker
(D) Nominal GDP
(E) Real GDP

Question

Which of the following is typically used as a measure of average labor productivity?

Choose 1 answer:
(A) Capital per worker
(B) Output per capita
(C) Technology per worker
(D) Nominal GDP
(E) Real GDP

Accepted Answer

∻Solution∻ ‖ a ⋮ Definition of Average Labor Productivity: Average labor productivity is typically measured as the output produced per unit of labor input. ‖ ‖ b ⋮ Identifying the Correct Measure: Among the given options, the measure that aligns with this definition is "Output per capita." ‖ ∻Answer∻ ⚹ (B) Output per capita ⚹ ∻Key Concept∻ ⚹ Average labor productivity is a measure of the efficiency of labor in producing output. ⚹ ∻Explanation∻ ⚹ The correct measure of average labor productivity is output per capita, as it directly relates to the amount of output produced per worker. ⚹◊What is the formula for calculating average labor productivity in an economy using output per capita? $$ \text{Average labor productivity} = \frac{\text{Total output}}{\text{Number of workers}} $$⍭ Generate me a similar question◊

Sia