Productivity Growth Is Important Because

question 82

Multiple Choice

Productivity growth is important because:

• A)it is the only way an economy can increase GDP.
• B)a small decrease in productivity growth causes a large decline in GDP.
• C)a large increase in productivity growth causes a small decrease in GDP.
• D)it causes an increase in the quantity of all resources available to an economy.
• E)it ultimately increases a nation's standard of living.

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Definitions:

Generate Revenue

The process of earning income from operations or activities, typically through the sale of goods or services.

Alternative Future Uses

Potential different applications or functions which an asset can serve in the future.

Research and Development

Activities undertaken by a business or government in order to innovate and introduce new products, processes, or services, or to improve upon existing ones.

Research and Development

The investigative activities a business conducts to improve existing products and procedures or to lead to the development of new products and procedures.