What are the preconditions for labor productivity growth?
What will be an ideal response?
The fundamental preconditions for labor productivity growth are the existence of: firms, markets, property rights, and money. These fundamental preconditions create an incentive system that can lead to labor productivity growth.
Economics
You might also like to view...
A price floor makes prices
A) below the price floor illegal. B) above the price floor illegal. C) below the equilibrium price illegal. D) above the equilibrium price illegal. E) None of the above answers is correct.
Economics
Which of the following does a government provide as part of a safety net for the people?
a) general elections every four years b) unemployment compensation c) a stong military defense d) regulation of commerce
Economics