Asked by
Juliza Tovar
on Nov 11, 2024
Verified
The only way standard of living can increase is through increases in labor productivity.
Standard of Living
The measure of affluence, convenience, tangible assets, and basic needs present for a particular economic group or location.
Labor Productivity
A gauge of economic productivity that determines the output of goods and services for every hour worked.
- Comprehend the elements that enhance productivity growth and their influence on the economy of the U.S.
- Identify the contribution of education to the improvement of workforce efficiency.
Verified Answer
PF
Learning Objectives
- Comprehend the elements that enhance productivity growth and their influence on the economy of the U.S.
- Identify the contribution of education to the improvement of workforce efficiency.
Related questions
The Figure Below Shows a Per-Worker Production Function ...
Improvements in Technology Shift the Per-Worker Production Function Downward
The Growing Use of Computers Led to a Substantial Increase ...
Education Makes Workers Aware of the Latest Production Techniques and ...
The Productivity Growth Slowdown of the Late 1970s and Early ...