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10-12-2019
Business

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A manager recently instituted a required retraining program to attempt to increase output by employees with out any additional increase in capital. Any increase in output would be associated with which of the following economic terms?

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10-12-2019

Answer:

Nominal labor productivity

Explanation:

Nominal labour productivity because output per worker rises due to increase in human capital. It is also defined as the value of all goods and services produced less the value of any goods or services used in their creation.

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