Which of the following would slow down productivity growth?
a. A change in the composition of the workforce so that more middle-aged people and fewer young people are working
b. A change in the composition of the workforce so that organizations hire more men who work steadily throughout the year than men who frequently enter and leave the workforce
c. The quality of education remaining unchanged
d. People starting to invest more in capital goods
e. Firms starting to cut down the size of their labor force
e
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Explain why gold, despite its value, is difficult to use as a medium of exchange
What will be an ideal response?
If the price of a good increases and the total revenue remains the same, the demand for the good is
A) elastic. B) inelastic. C) unit elastic. D) perfectly elastic.
Innovation in the U.S. was spurred by:
a. a free high school education in the U.S. b. an influx of capable immigrants c. an inexpensive patent system d. All of the above are correct.
The original source of capital is __________.
Fill in the blank(s) with the appropriate word(s).