The key to sustained economic growth is increasing labor productivity.Question 34Answera.Trueb.False

Answer

The statement "The key to sustained economic growth is increasing labor productivity" is a. True.

Explanation

Increasing labor productivity is indeed a significant factor in achieving sustained economic growth. When workers are more productive, they are able to generate more output in the same amount of time. This increase in efficiency can lead to higher wages, greater profits for businesses, and ultimately, enhanced overall economic performance. Economies that focus on improving labor productivity through innovation, technology, and better training typically experience more robust growth rates. Therefore, the assertion is accurate and aligns with economic theories regarding productivity and growth.