Labor productivity growth depends on i. saving and investment.
Ii. increases in human capital.
Iii. technological growth.

Question

Quizplus · Accepted Answer

Labor productivity growth depends on all three factors: saving and investment, increases in human capital, and technological growth. Saving and investment provide the necessary resources and infrastructure for businesses to operate and improve efficiency. Increases in human capital, such as education and training, improve the skills and knowledge of workers, leading to higher productivity. Technological growth, such as advancements in automation and information technology, also contributes to improvements in efficiency and productivity. Therefore, all three factors are essential for sustained labor productivity growth.

Labor Productivity Growth Depends on I