The most important thing about higher labor productivity is that it means
A) we are doing better than anyone else is.
B) we can compete well with other nations.
C) we can achieve a happier population.
D) we can have a higher standard of living.

Question

Quizplus · Accepted Answer

Higher labor productivity means that more goods and services can be produced in less time, which leads to higher profits and economic growth. This can ultimately result in a higher standard of living for individuals in the economy.

The Most Important Thing About Higher Labor Productivity Is That