Thank you for the opportunity to help you with your question!
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
Please let me know if you need any clarification. I'm always happy to answer your questions.
Aug 21st, 2015
Did you know? You can earn $20 for every friend you invite to Studypool!