The United States' gross domestic product (GDP) per capita grew more quickly over the past ten years than nearly any other highly industrialized nation. Strong labor productivity increase is largely responsible for the United States' recent strong per capita growth.
How is the United States productivity?
In the US, production is experiencing a revival. After years of declining productivity and a declining labor force participation rate, recent years have seen a revival of growth. Price Waterhouse Coopers claims that variables like a stronger economy, a more qualified labor force, tax policies, the regulatory environment, transportation and energy costs are the driving forces behind this comeback.
Two nations that compete with the US in production are China and Japan. Although Japan has the best technology and China has inexpensive labor and an abundance of raw materials, the US is still at the top of this list for the reasons already outlined.
To know more about gross domestic product, refer to:
https://brainly.com/question/14768180
#SPJ4
