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Did human capital physical capital capital deepening lead to the increase in productivity?
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Increasing the amount of capital per worker is called?
capital deepening- "An increase in the amount of capital per worker; one source of rising labor productivity" (McEachern, 2009).
How can a deficit actually increase the productivity of the economy?
by importing investment goods used for capital deepening
How does capital deepening increase output per workers?
Increase in capital per worker does increase real wages. The higher the productivity, the higher the standards of living.
How can a trade deficit actually increase the productivity of an economy?
by importing investment goods used for capital deepening
How can a trade deficit actually increase of productivity of an economy?
by importing investment goods used for capital deepening
How can trade deficit annually increase the productivity of an economy?
by importing investment goods used for capital deepening
When you increase human capital does it increase or decrease productivity?
if employees perform well, the GDP increases
What is an efficiency way for a nation to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What is a efficient way for a nation to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What is an efficient way for nations to increase its wealth and income?
It can increase its labor productivity by investing in human capital.
What are the elements of productivity and how is it increased?
The elements of productivity include: * Physical capital:human made resources such as tools, buildings, machines * Human capital:labour force that possesses skills, education, training * Technology:the technical means for the production of goods and services. It is the most important driver of productivity according to some economists. It involves not only major inventions but thousands of small innovations. Productivity may be increased by increasing the physical capital, human capital or technology. Note that there is a term called Diminishing Returns to Physical Capital- which means successive increases in physical capital lead to smaller increases in productivity.
What is extensive commercial agriculture?
the use of little labor and capital to increase agricultural productivity
