#1
Which of the following is a commonly used measure of productivity?
Output per unit of input
ExplanationMeasure of efficiency in utilizing resources.
#2
What is the primary goal of productivity measurement?
To identify areas for improvement and efficiency gains
ExplanationIdentification of avenues for enhancing operational efficiency.
#3
What is the formula for calculating labor productivity?
Output / Total labor cost
ExplanationRatio of output produced to total labor expenditure.
#4
Which of the following is NOT a factor affecting productivity?
Government regulations
ExplanationExternal regulatory policies not directly influencing efficiency.
#5
Which of the following is NOT a component of multifactor productivity?
Materials
ExplanationResource category not encompassed in multifactor assessment.
#6
What does Total Factor Productivity (TFP) measure?
The efficiency of all factors of production combined
ExplanationIntegrated efficiency across production inputs.
#7
In the context of productivity measurement, what does 'total inputs' typically include?
Capital and labor inputs
ExplanationAggregate of labor and capital resources.
#8
Which of the following is an example of partial productivity?
Output per employee
ExplanationProductivity metric focused on a specific input factor.
#9
Which productivity measure is most suitable for comparing the efficiency of different production processes within the same industry?
Partial productivity
ExplanationComparative assessment focusing on specific aspects of production.
#10
Which productivity measure compares the output of an entire industry with the total inputs of all industries?
Total factor productivity
ExplanationIndustry-wide efficiency in resource utilization.
#11
What is the primary limitation of using labor productivity as a measure?
It does not include capital inputs.
ExplanationExcludes the role of capital resources in production.
#12
Which productivity measure accounts for the combined effect of all inputs used in production?
Multifactor productivity
ExplanationOverall efficiency considering various input resources.
#13
Which of the following is a limitation of using multifactor productivity?
It does not account for quality changes in output.
ExplanationNeglects variations in output quality.
#14
What is the primary advantage of using multifactor productivity over labor productivity?
It accounts for all inputs, not just labor.
ExplanationConsiders diverse resource contributions.
#15
What does a high multifactor productivity index indicate?
High efficiency in using inputs
ExplanationEfficient utilization of multiple resources.
#16
Which of the following is a characteristic of total factor productivity?
It measures the efficiency of all inputs combined.
ExplanationComprehensive assessment across all input dimensions.