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6.2 Labor productivity and economic growth  (Page 18/19)

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  • Card 18 / 19:
    production function

    the process whereby a firm turns economic inputs like labor, machinery, and raw materials into outputs like goods and services used by consumers

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Practice FlashCards 7 Key Terms 8

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Source:  OpenStax, University of houston downtown: macroeconomics. OpenStax CNX. May 28, 2014 Download for free at http://legacy.cnx.org/content/col11653/1.3
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