Identify below what does NOT affect productivity ?
Correct answer: C. The phase of the lunar cycle
- A. Public investment in education
- B. Innovation and the application of new technology
- C. The phase of the lunar cycle
- D. Private investment in new physical caital
Explanation
Education, innovation, technology and investment in physical capital can all raise productivity. The lunar cycle has no established economic role in determining labour or overall productivity.
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The economy is studied as a whole through national income, gross domestic product, inflation, unemployment, economic growth and business cycles. Coverage includes aggregate demand and supply, consumption and investment, money and banking, fiscal and monetary policy, exchange rates and balance of payments, which distinguishes macroeconomics from the study of individual markets.
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