Economic Growth and Labor Productivity Quiz
Explore key determinants of economic growth, labor productivity factors, and their impact on policy and standards of living.
#1
Which of the following is a key determinant of economic growth?
Increase in government regulations
Decrease in consumer spending
Rise in labor productivity
Reduction in international trade
#2
What is labor productivity?
The amount of time a worker spends on the job
The measure of output per worker per unit of time
The total number of workers in a company
The number of hours a worker takes to complete a task
#3
What effect does technological innovation typically have on labor productivity?
Decreases it
Has no effect
Increases it
Makes it unpredictable
#4
What is the primary goal of policies aimed at increasing labor productivity?
To decrease wages
To reduce working hours
To increase output per worker
To promote automation
#5
Which of the following is NOT a factor affecting labor productivity?
Technological advancements
Educational level of workers
Government regulations
Efficiency of production processes
#6
What is the Solow Residual, also known as Total Factor Productivity?
The amount of output produced by one unit of labor
The part of output growth that cannot be attributed to the increase in inputs
The difference between gross output and net output
The productivity of a specific sector in the economy
#7
What is the relationship between economic growth and labor productivity?
They are unrelated
Higher labor productivity always leads to economic growth
Economic growth leads to higher labor productivity
They have an inverse relationship
#8
Which of the following is NOT a measure of labor productivity?
GDP per capita
Output per hour worked
Revenue per employee
Total employment rate
#9
What is the formula for calculating labor productivity?
Output / Capital
Output / Labor
Output / Time
Capital / Labor
#10
Which of the following policies could contribute to enhancing labor productivity?
Implementing higher taxes on businesses
Reducing investments in infrastructure
Promoting employee training and skill development
Increasing trade barriers
#11
What role does human capital play in labor productivity?
It has no effect
Higher human capital leads to lower productivity
Higher human capital leads to higher productivity
It only affects technological innovation
#12
Which of the following sectors typically has the highest labor productivity?
Agriculture
Manufacturing
Services
Government
#13
Which of the following is an example of capital deepening?
A company investing in employee training programs
Replacing workers with automated machinery
Expanding a factory to accommodate more workers
Increasing the number of working hours per day
#14
Which of the following policies could potentially hinder labor productivity growth?
Investing in infrastructure improvements
Implementing flexible labor market policies
Imposing excessive regulations on businesses
Encouraging research and development
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