Asked by
Terrian Smith
on Oct 12, 2024Verified
Our rate of economic growth
A) is negatively related to our rate of productivity growth.
B) has no relation to our rate of productivity growth.
C) is slightly related to our rate of productivity growth.
D) is closely related to our rate of productivity growth.
Productivity Growth
An increase in the efficiency of production, often measured as the ratio of output to inputs over a specific period, leading to greater outputs with the same or lesser inputs.
Economic Growth
A rise in the output of goods and services within an economy across a certain timeframe, usually gauged by the Gross Domestic Product.
- Understand the relationship between economic growth and productivity growth.
Verified Answer
SR
Learning Objectives
- Understand the relationship between economic growth and productivity growth.