What is Productivity Flashcards
1
Q
What is Productivity
A
The average level of output per worker/per hour
2
Q
What IS THE GROSS DOMESTIC PRODUCT
A
The total dollar walruses of all goods and services produced by all the different boundaries of a country during a specified time period
3
Q
Inflation
A
A rise in the level of prices without a rise in value
4
Q
Unemployment rate
A
Is the percentage of a nations labor force unemployed at the time
5
Q
Deflation
A
A general decrease in the level of prices
6
Q
What is the consumer price index
(CPI)
A
A monthly index that measures
the change in prices
Of a fixed basket of goods
Purchased by a typical consumer in an urban area.
7
Q
A
