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Suppose the total factor productivity in Switzerland,Italy,South Africa,and India are 0.72,0.69,0.44,and 0.23,respectively.If the U.S.total factor productivity is 1.00,then the United States is __________ productive,respectively,than these four countries.
Opportunity Costs
The decline of potential rewards from different options as a result of choosing one.
Labor Skills
The abilities and expertise that workers possess, which can affect their productivity, efficiency, and the quality of work produced.
Capital
Financial assets or resources that individuals or businesses use to invest, produce, and create economic value.
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