To what do economists attribute the rapid growth of labour productivity in the United States relative to other countries?
A)the flexibility of U.S.labour markets and the efficiency of the U.S.financial system
B)the strict government rules in the United States that regulate a firm's ability to hire and fire workers
C)the low rate of job mobility in the United States
D)the high level of unemployment benefits the United States pays relative to other countries like Canada
E)the higher educational attainment of American workers relative to workers in other countries like Canada

Question

Quizplus · Accepted Answer

Economists attribute the rapid growth of labor productivity in the US relative to other countries to the flexibility of labor markets and the efficiency of the financial system. The US labor markets are more flexible than many other countries, and this allows for easier hiring and firing of workers, leading to a more efficient allocation of labor resources. Additionally, the US financial system is highly developed, enabling businesses to access capital more easily, leading to higher productivity levels.

To What Do Economists Attribute the Rapid Growth of Labour