MGTA02H3 Lecture Notes - Lecture 7: French Fries, Planned Obsolescence, Workforce Productivity
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Productivity ratio which measures how much gets achieved relative to the inputs that are used to achieve it. Economic productivity measure of productivity that uses dollar value as a measure of output: gdp per capita a simple measure of economics productivity. Nominal gdp - measures current quantity and current prices: gdp of 2016: qn 2016 x pn 2016. Real gdp - measures gdp at constant prices: gdp of 2016: qn 2016 x pn 2002, better measure of material well-being than nominal and real gdp. A country with higher gdp and large population might not fare well in this calculation: examples: india: real gdp rank: 03*, real gdp per capita rank: 124* Prosperity is not the result of working long hours. The average canadian worked 1708 hours in 2014, roughly the. Oecd (organisation of economic cooperation and development) average. This is less than the 2236 hours worked by much poorer mexicans, and 20% more hours than wealthy germans and norwegians.
