(a) Explain what productivity measures.(b) List and describe 3 factors of labour productivity.(c) International data show a positive correlation between political stability and economicgrowth.(i) Through what mechanism could political stability lead to economic growth? (ii) Through what mechanism could strong economic growth lead to politicalstability?

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Answered: (a) Explain what productivity measures.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

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(a) Explain what productivity measures.

(b) List and describe 3 factors of labour productivity.

growth.

(i) Through what mechanism could political stability lead to economic growth?

(ii) Through what mechanism could strong economic growth lead to political

stability?

Definition Definition Increase in the amount of goods and services produced by a country in a given period of time compared to an earlier period. Economic growth is generally coupled with a rise in national income or the purchasing power of individuals. It is often measured in terms of the increase in a country's gross domestic product (GDP), or the overall monetary value of all the complete or final services and goods that a country can produce within its domestic boundaries in a specific period.

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