Question: What is the difference between the labour productivity and the total factor productivity (TFP)? Why is productivity improvement important for our living standard and well-being?

  • What is the difference between the labour productivity and the total factor productivity (TFP)? Why is productivity improvement important for our living standard and well-being?
  • What are the current productivity trends in Australia?
  • Use your own words to reflect the three reasons for the productivity slowdown in OECD countries?

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