How is productivity related to the unemployment rate?
Labor productivity is the measure of hourly output produced by a worker in a countries economy. Labor productivity growth occurs when workers produce more goods and services for a given number of worked hours. As a result, if it is increased, it leads to high profit and more chances for investment in a firm.
Answer and Explanation: 1
Wages offered by a firm to the employee directly relates to their productivity. Unemployment shows unused potentially productive human resources. When...
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fromChapter 17 / Lesson 16
Learn about labor productivity. Understand how to calculate labor productivity, examine the labor productivity formulas, and see how to improve labor productivity.