If the capital stock remains fixed and the quantity of labor decreases, labor productivity will probably increase.
What is Labor Productivity?
An economy's hourly output is measured by labor productivity. It specifically shows how much real gross domestic product (GDP) is generated in a given hour of labor. Three primary variables are necessary for increasing worker productivity: saving for and investing in physical capital, new technology, and human capital. By directly investing in or establishing incentives for improvements in technology and human or physical capital, business and government can raise labor productivity of workers. Divide the total output by the total labor hours to find the labor productivity of a nation.
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