9. Multifactor productivity measurement is used by the U.S. Government because: (a) It combines the overall cost
Question:
9. Multifactor productivity measurement is used by the U.S. Government because:
(a) It combines the overall cost of all input factors that create the total output of goods and services. This is the best way to measure national productivity.
(b) It is the tradition of many governments to combine labour and capital factors. This is the best way to measure GDP.
(c) The years 1973 through 1979 had an average multifactor productivity measure of 0.3. This was fol- lowed by even worse years, which provide strong evidence that government action would be needed to correct the situation.
(d) The American auto industry finds it useful to employ multifactor analysis when they lobby the U.S. Congress. It is unlikely that measurable change can occur as a result.
Step by Step Answer:
Production And Operations Management
ISBN: 9780071077927
1st Edition
Authors: McGraw-Hill Education India