The economic growth model explains growth in real gdp per capita in the long run. because of the importance of labor productivity in explaining economic growth, the economic growth model focuses on the causes of increases in long-run labor productivity. what are the key factors that determine labor productivity? (mark all that apply.)

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Business

Lee Klein

26 May, 17:30

The economic growth model explains growth in real gdp per capita in the long run. because of the importance of labor productivity in explaining economic growth, the economic growth model focuses on the causes of increases in long-run labor productivity. what are the key factors that determine labor productivity? (mark all that apply.)

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Josh Burns · Answer 1

The term labor quantity defines the quantity of goods and services that can be produced by one worker or by one hour of work. The key factors that determine labor productivity and lead to economic growth are: quantity of capital per hour worked and the level of technology. The better the technology the bigger the productivity.