Asked by Brian Doherty on May 16, 2024
Verified
Average productivity can be measured as total output divided by total units of labor.
Average Productivity
The output produced per unit of input, such as labor or capital, on average.
Total Output
The total quantity of goods and services produced in an economy over a given period of time.
- Grasp the role of productivity in determining wages and living standards.
Verified Answer
RS
Rogelio SanchezMay 18, 2024
Final Answer :
True
Explanation :
Average productivity is calculated by dividing the total output by the total units of labor, providing a measure of output per unit of labor.
Learning Objectives
- Grasp the role of productivity in determining wages and living standards.