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.
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The first labor unions in the United States were
A) public-sector unions. B) industrial unions. C) guilds. D) craft unions.
Laws that governments enact to regulate prices are called price barriers.
Select whether the statement is true or false. A. True B. False
An explanation for why the short-run aggregate supply curve is upward-sloping is because:
a. nominal incomes are fixed. b. the quantity of real output supplied is inversely related to the aggregate supply curve. c. an increase in price will increase the supply of money. d. the capital-output ratio.
Forwards, swaps, futures, and options are examples of:
a. spot market transactions. b. transaction costs. c. market frictions. d. derivatives.