You are aware that with an increase in potential GDP, there is also an increase in labor productivity. If we want our standard of living to increase and continue growing, it is necessary that per person real GDP and labor productivity also increases. But there are few important questions related to this aspect too.
- What is the requirement of growing labor productivity?
- Why at times growth in labor productivity is higher and at times lower?
- What are the conditions that help in this growth of this labor productivity?
Links of Previous Main Topic:-
- Definition of Economics
- Economic Problem
- Market Equilibrium
- Employment and Unemployment
- Economic Growth Macroeconomics
- The Basics of Economic Growth
Links of Next Macroeconomics Topics:-
- Preconditions for Labor Productivity Growth
- Physical Capital Growth
- Human Capital Growth
- Technological Advances
- Growth Theories Evidence and Policies
- Classical Growth Theory
- Neoclassical Growth Theory
- New Growth Theory
- New Growth Theory Versus Malthusian Theory
- Sorting Out the Theories
- The Empirical Evidence on the Causes of Economic Growth
- Economic Growth Macroeconomics
- Policies for Achieving Faster Growth
- The Exchange Rate and the Balance of Payments
- The Dollar and Carry Trade
- Expenditure Multiplier Know the Keynesian Model