Labor productivity A. determines the real standard of living for a country. B. equals the average product of labor. C. growth depends on growth in the stock of capital. D. All of the above are true.
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Ответ:
D
Explanation:
Labor productivity is the rate of output contribution of an employee to the economy , which is affected by the level of investment in physical capital , new technology and human capital.
In furtherance to the definition , it impacts the standard of living ,higher productivity leads to better standard,and also on the growth of stock of capital as capital appreciation aids labor productivity.
Ответ:
To narrow one's focus in order to become an expert at producing a particular good or service is to SPECIALIZE.
When a company specialize a product or service, all of its resources are geared towards making said product or service the best that they can produce.