Labor productivity is normally measured by (c) <u>dividing total real domestic output by the number of workers or by the number of</u><u> labor hours.</u>
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<h3>What is Labour productivity?</h3>
- The total volume of production (measured in terms of Gross Domestic Product, GDP) produced per unit of labor (measured in terms of the number of employed workers or hours worked) during the course of a specific time reference period is what is referred to as labor productivity.
- Divide the total output by the total labor hours to find the labor productivity of a nation.
What is labour productivity in India?
- A measurement of labor output is labor productivity.
- Hourly productivity metrics are used. The actual Gross Domestic Product (GDP) produced by labor in an hour is what is referred to as labor productivity in macroeconomics.
- An important component of a business's overall growth is labor productivity.
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When someone lends money to someone else, the borrower usually pays a fee to the lender. This fee is called 'interest'. 'Simple' interest, or 'flat rate' interest. The amount of simple interest paid each year is a fixed percentage of the amount borrowed or lent at the start. <span>Interest = Principal × Rate × Time</span>
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