A major effect of the rise in the rate of productivity growth in the United States is a(n):

Question

Quizplus · Accepted Answer

When productivity growth rises, it leads to an increase in the output that is produced with the same level of input. This implies that more goods and services are produced for the same amount of resources used. This, in turn, leads to an increase in per capita income, which means that individuals are able to purchase more goods and services, resulting in a rise in living standards.

A Major Effect of the Rise in the Rate of Productivity