Which of the following is true about labor productivity?
A)it is the amount of output produced per unit of labor
B)it is easier to measure than total factor productivity (TFP)
C)it is more commonly mentioned in the media than total factor productivity (TFP)
D)all of the above
E)none of the above

Question

Quizplus · Accepted Answer

All of the statements about labor productivity are true. It is defined as the amount of output produced per unit of labor, making it a straightforward measure of efficiency. It is indeed easier to measure than total factor productivity (TFP), which takes into account all inputs used in production, not just labor. Additionally, labor productivity is more commonly mentioned in the media than TFP, likely due to its simpler concept and easier calculation.

Which of the Following Is True About Labor Productivity