Economic growth will occur when there is an increase in labour productivity in an economy.

Question

Quizplus · Accepted Answer

Economic growth is typically measured by an increase in gross domestic product (GDP), which can be achieved through an increase in labour productivity. This means that workers are able to produce more output per unit of input, such as time, capital, or resources. With higher productivity, firms can produce more goods and services, which can increase sales and profits. This can lead to higher levels of investment and employment, further boosting economic growth.

Economic Growth Will Occur When There Is an Increase in Labour