In an opinion column in the Washington Post, Robert Samuelson wrote, As you probably know, productivity is

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In an opinion column in the Washington Post, Robert Samuelson wrote, “As you probably know, productivity is just another term for efficiency. . . . Higher productivity is the ultimate engine of higher living standards.”

a. Do you agree that productivity is another term for efficiency?

b. What does Samuelson mean by calling higher productivity the “ultimate engine” of higher living standards? Briefly explain whether you agree with him.

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Economics

ISBN: 9781292430645

8th Global Edition

Authors: R. Glenn Hubbard, Anthony P. O'Brien

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