Question

Labor productivity is:

a. The quantity of labor produced in one hour.
b. The quantity of output produced in one hour by one machine.
c. The quantity of output that can be produced in one hour by several workers.
d. The quantity of output produced in one hour by one worker.

Answer 1

Labor productivity is the quantity of output produced in one hour by one worker, reflecting the efficiency of the workforce. The correct option is d.

Step-by-step explanation:

The question you've asked relates to labor productivity, which is a significant factor in economic growth and the efficiency of a nation's workforce.

Labor productivity is defined as the quantity of output produced in one hour by one worker. It measures the efficiency and effectiveness with which labor is used in the production process. For example, if a Canadian worker can make 10 loaves of bread in an hour and a U.S. worker can make only two in the same timeframe, the Canadian worker is considered more productive.

This productivity allows for more output in the same amount of time and can lead to a healthier economy with resources that can be allocated elsewhere.