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Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329

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BuyFindarrow_forward

Exploring Economics

8th Edition
Robert L. Sexton
Publisher: SAGE Publications, Inc
ISBN: 9781544336329
Chapter 20, Problem 9P
Textbook Problem
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Which of the following are likely to improve the productivity of labor and thereby lead to economic growth? Why?

a. on-the-job experience

b. vocational school

c. a decrease in the amount of capital per worker

d. improvements in management of resources

To determine

(a)

To explain:

Whether on-the-job experience would improve the productivity of labor and will lead to economic growth.

Explanation of Solution

The economic growth of the country is usually measured by labour productivity. It measures the number of goods and services that are being produced by labour per hour.

If the labour is provided with on job ...

To determine

(b)

To explain:

Whether vocational school would improve the productivity of labour and will lead to economic growth.

To determine

(c)

To explain:

Whether a decrease in the amount of capital per worker would improve the productivity of labour and will lead to economic growth.

To determine

(d)

To explain:

Whether improvement in the management of resources would improve the productivity of labour and will lead to economic growth.

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