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What is the relationship between economic growth and productivity? What is the major source of growth in labor productivity?

Aug 21st, 2015

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Economic growth is enabled by increases in productivity, which lowers the inputs for a given amount of output. Lowered costs increase demand for goods and services. Economic growth is defined as any production increase of a business or nation. It is usually expressed as an annual growth percentage depicting growth of the company output or in short the relationship is that

Productivity and economic growth are connected because economic growth happens when productivity increases

major source of growth in labor productivity is the capital stock

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Aug 21st, 2015

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