Question

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.)

Answer 1

Explanation:

The main determinants of labor productivity are physical capital, human capital, and technological change. These can also be viewed as key components of economic growth