Productivity Is More Difficult to Improve in the Service Sector

question 62

True/False

Productivity is more difficult to improve in the service sector.

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Definitions:

Private Pension Plan

A retirement plan established by an employer or a union that provides an income to employees after retirement, funded primarily through employer contributions.

GST

Goods and Services Tax; a value-added tax levied on most goods and services sold for domestic consumption.

Child Care Benefits

Assistance provided by employers or government entities to employees for child care, aiming to support working parents.

Defined Contribution Plans

Defined contribution plans are retirement savings plans where the amount contributed is defined, but the benefit received at retirement depends on the investment's performance.