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denis-greek [22]
3 years ago
8

Marci spends 8 hours researching and writing a 26​-page report for her philosophy class. Jack brags that he has a​ "streamlined

process" for performing the researching and writing. Jack takes just 20 hours to research and write the​ paper, but his report is only 26 pages long.
Business
1 answer:
Leno4ka [110]3 years ago
7 0

Answer:

Productivity is measured by the amount of output per unit of input.

In this case, the inputs will be the hours spent doing research and writing their essays. Output will equal the amount of pages written.

Marci spent 8 hours and wrote a 26 page long report, so her productivity = 26 pages / 8 hours = 3.25 pages per hour

Jack spent 20 hours and wrote a 26 page long report, so his productivity = 26 pages / 20 hours = 1.3 pages per hour

Marci is much more productive in terms of hours spent doing and writing, and how long the report is.

The problem with this type of analysis is that we do not know if Marci's report was good or bad, and the same applies to Jack's. Since we do not know what grade they got, we cannot be sure how effective their work was.

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Explanation:

Gold Standard

Gold standard is a monetary system where the paper money issued by the government through its monetary authority must be backed a defined quantity of gold. But nations have since moved from that gold standard and to a monetary system known as  Fiat currency. under gold standard the value of money is commensurate with the value of gold backing such a currency.

Fiat currency

When monetary authority issue paper money that is not backed by gold but  with the faith of the issuing authority, such is called fiat currency or fiduciary issue. Fiduciary issues is purely based on trust in the government issuing it.

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