Improvements in labor productivity 56 increase wages and salaries. Wages and salaries 57 about 75 percent of all income in the United States. 58 , labor productivity is the major 59 of this (and all other) nations’ living standards. If labor productivity improves because of an advance in technology, the 60 of output increases 61 the need for additional labor. The dollar value of all goods increases 62 , which implies that consumers ultimately receive more income.
Entrepreneurs have a profit 63 to increase labor productivity. They do so by providing their workers with better equipment and creating more efficient ways for their workers to use that equipment. Entrepreneurs also have an incentive to discover new products that are more highly valued 64 to their cost of production.
Some of the largest increases in productivity occur 65 major technological advancements. The steam
A. nothing short of
B. nothing but
C. anything but
D. no more than
Improvements in labor productivity 56 increase wages and salaries. Wages and salaries 57 about 75 percent of all income in the United States. 58 , labor productivity is the major 59 of this (and all other) nations’ living standards. If labor productivity improves because of an advance in technology, the 60 of output increases 61 the need for additional labor. The dollar value of all goods increases 62 , which implies that consumers ultimately receive more income.
Entrepreneurs have a profit 63 to increase labor productivity. They do so by providing their workers with better equipment and creating more efficient ways for their workers to use that equipment. Entrepreneurs also have an incentive to discover new products that are more highly valued 64 to their cost of production.
Some of the largest increases in productivity occur 65 major technological advancements. The steam
A. factor
B. determinant
C. measurement
D. standard
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