Why do economists consider growth in average labor productivity to be the key factor in determining longrun

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Why do economists consider growth in average labor productivity to be the key factor in determining longrun living standards? (LO2)

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Principles Of Macroeconomics

ISBN: 9781259414367

6th Edition

Authors: Robert Frank, Ben Bernanke, Kate Antonovics

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Question Posted: Nov 08, 2024 03:00 AM

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Why do economists consider growth in average labor productivity to be the key factor in determining longrun living standards? (LO2)
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Why do economists consider growth in average labor productivity to be the key factor in determining longrun

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Principles Of Macroeconomics

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