--%>

Productivity growth in quantitative importance

To what extent has enhanced in Canada’s real GDP been the result of more labour inputs? Of developing labour productivity? Describe the factors which contribute to productivity growth in order of their quantitative importance.

 

E

Expert

Verified

Productivity rising factors in descending order:

(a) Technological advance—the finding of new knowledge which results in the combining of resources in more productive ways.

(b) The quantity of capital.

(c) Education & training. Since the year of 1940 the proportion of those in the labour force with a high school education has doubled from 40 to 80 %. And those along with a college or university education contain more than doubled from under 10 % to over 20 %.

(d) Economies of scale and

(e) Developed resource allotment. Employees have been going out of lower productivity jobs to higher productivity jobs. Part of this is related with the enhanced efficiency frequently derived from production in larger plants, wherein specialization of labour and productivity-increasing methods is possible.

 

   Related Questions in Finance Basics

  • Q : Describe value investing Value

    Value investing is an investment strategy which involves buying securities whose shares appear underpriced by some form(s) of fundamental analysis, like stocks with low Price to Earning or Price to Book value. This strategy basically is of buying stoc

  • Q : Define Special Funds Special Funds :

    Special Funds: For legal base budgeting purposes, funds produced by statute, or administratively per Government Code Section 13306, employed to budget and account for taxes, licenses, and fees which are restricted by law for specific activities of the

  • Q : What is Change Book System Change Book

    Change Book System: The system the Department of Finance employs to record all the legislative modifications (comprising changes stated by the Administration and approved by the Legislature) made to the Governor's Budget and the last actions on the bu

  • Q : Clarify trade credit is free credit or

    Trade credit is free credit. Do you agree or conflicting with this statement? Clarify. Trade credit is not free. It contains a cost. Who bears that cost based on the terms of the transaction among the grantor and the recipient of the trade c

  • Q : Describe the role of a broker in

    Describe the role of a broker within security transactions? How are brokers compensated?Brokers handle orders to purchase or sell securities. Brokers are agents who work in support of an investor. While investors call with an order, brokers work

  • Q : Define Cost-of-Living Adjustments

    Cost-of-Living Adjustments (COLA): Increases offered in state-funded programs which comprise periodic adjustments predetermined in state law (statutory, like K-12 education apportionments), or established at optional levels (that is discretionary) by

  • Q : What is the schedule of Federal Funds

    What is the schedule of Federal Funds and Reimbursements, Supplementary: The supplemental schedule proposed by departments throughout budget preparation that exhibits the federal receipts and reimbursements through source.

  • Q : Aggregate demand or aggregate supply

    Normal 0 false false

  • Q : Short run and long run influence Normal

    Normal 0 false false

  • Q : State Section 30.00 Section 30.00 : It

    Section 30.00: It is a Control Section of Budget Act which amends Government Code Section 13340 to tha sunset continuous appropriations.