Which of the following best explains productivity?
A)Productivity is equal to nominal GDP per person.
B)Productivity is equal to real GDP per person.
C)Productivity is the quantity of goods or services that a worker can produce in one hour.
D)Productivity is the growth rate of real GDP per person.

Question

Quizplus · Accepted Answer

Productivity refers to the quantity of goods or services that a worker can produce in one hour. Nominal and real GDP per person are measures of economic output, but productivity is a measure of how efficiently that output is produced. The growth rate of real GDP per person is another measure of economic performance, but it doesn't specifically focus on the productivity of individual workers. Therefore, choice C is the best explanation for productivity.

Which of the Following Best Explains Productivity