Labor productivity is defined as

Question

Quizplus · Accepted Answer

Labor productivity is the amount of real GDP produced per hour of labor. Option A is incorrect as zero percent unemployment does not necessarily correlate with labor productivity. Option B refers to changes in the efficiency of production, but does not specifically relate to labor productivity. Option D refers to the amount of output the economy can produce if all resources are used efficiently, which is different from actual labor productivity.

Labor Productivity Is Defined as