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human capital invest in training for promise of new jobs this is where education, experience, knowledge, skills
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Why is productivity growth important to countries?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
How are standard of living and GDP related?
Usually, the higher the GDP, the higher the standard of living.
What was the result of the increased productivity in the 1950s?
Americans enjoyed a higher standard of living than any other nation.
What was one result of increased productivity in the 1950s?
Americans enjoyed a higher standard of living than any other nation.
How is productivity related to the standard living?
human capital invest in training for promise of new jobs this is where education, experience, knowledge, skills
Nations standard of living determined by productivity?
A nation's standard of living is closely linked to its productivity levels. Higher productivity means more output can be produced with the same resources, leading to increased income and wealth for individuals. This can result in better living standards, including more goods and services, higher wages, and overall economic prosperity.
Factors which determine country's standard of living?
Productivity and income distribution
Why is productivity growth important to countries?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
Explain why economists argue that productivity is important?
The higher the productivity , the higher the living standard of the country. It also contributes in growth in output and income of the country.
What is one way new technology helps the US improve its standard of living?
increases productivity
How are standard of living and GDP related?
Usually, the higher the GDP, the higher the standard of living.
How is employment rate related to quality of life and standard of living?
standard of living depend on employment
What was the result of the increased productivity in the 1950s?
Americans enjoyed a higher standard of living than any other nation.
What was one result of increased productivity in the 1950s?
Americans enjoyed a higher standard of living than any other nation.
How can an country increase its standard of living?
They should probably put funds into more neccesary areas and increase tax.
How are productivity are growth related?
Economic growth and productivity are directly related. The more productivity that there is in a nation, the more exponential that the economic growth will be.
