Which of the following increases total factor productivity?

Question

Quizplus · Accepted Answer

Investment in machinery can increase labor productivity, but it doesn't necessarily increase total factor productivity since it only affects one factor of production. A harsh winter and better access to credit may have indirect effects on productivity, but they don't directly increase total factor productivity. In contrast, new production procedures can improve the efficiency of all factors of production and lead to a higher total factor productivity.

Which of the Following Increases Total Factor Productivity