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Productivity is the Blank______ at which goods and services are produced based upon total output given total inputs. Multiple choice question. rate input output process

Sagot :

Productivity is the "rate" at which goods and services are produced based upon total output given total inputs.

What is rate pf productivity?

In economics, productivity is the ratio of output to input, such as labour, capital, or any other resource. It is frequently determined for the economy as a ratio of hours worked to gross domestic product (GDP).

Labour productivity is calculated by the formula-

the labour productivity equation: total output / total input.

The residual of any discrepancy between the rate of output growth and the rate of input growth is used to calculate productivity growth.

To know more about the gross domestic product (GDP), here

https://brainly.com/question/1383956

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