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

Question

Quizplus · Accepted Answer

All three factors, saving and investment, increases in human capital, and technological growth, are important for labor productivity growth. Saving and investment provide the necessary funds for businesses to invest in new technologies and equipment, which can increase labor productivity. Increases in human capital, such as education and training, can also improve workers’ abilities to perform tasks more efficiently, leading to higher productivity. Finally, technological growth can lead to the development of new, more efficient production methods and products, allowing for increased output and productivity.

Labor Productivity Growth Depends on