The Substantial Increases in Output Per Worker Over the Last

question 135

Short Answer

The substantial increases in output per worker over the last 50 or so years are largely explained by __________.

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Definitions:

Foreign Imports

Products or services imported from other countries for the purpose of being sold.

Trade Deficit

A scenario in which a country spends more on importing goods than it makes from exporting them, creating a trade imbalance.

Trade Deficit

A situation in which a country's imports exceed its exports, reflecting a net outflow of domestic currency to foreign markets.

Merchandise Trade Deficit

The economic condition occurring when a country imports more physical goods than it exports, resulting in a negative trade balance.