Factors that influence labor productivity include .

Question

Quizplus · Accepted Answer

Physical capital (such as machinery and equipment), human capital (skills and education of workers), and technology (including advancements in production methods) are all factors that can improve labor productivity. The inflation rate, real wage rate, and exchange rate may impact the cost of labor or the competitiveness of a country's exports, but they do not directly impact labor productivity. The labor demand curve is a concept in labor economics that explains the relationship between the amount of labor demanded by firms and the wage rate, but it is not a factor that directly impacts labor productivity.

Factors That Influence Labor Productivity Include