Why do economists consider growth in average labor productivity to be the key factor in determining long-run

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Why do economists consider growth in average labor productivity to be the key factor in determining long-run living standards?

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Principles of Economics

ISBN: 978-0073511405

5th edition

Authors: Robert Frank, Ben Bernanke

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Question Posted: Dec 12, 2015 04:35 AM

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Why do economists consider growth in average labor productivity to be the key factor in determining long-run

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Average labor productivity times the share of the population that is employed equals real ...View the full answer

Principles of Economics

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