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?

Which of these three reasons is more convincing to you? Explain your answer using a real-world example.

Is there any other reason which might contribute to the productivity slowdown?

What sorts of productivity-enhancing reforms we need to maintain the long-term growth and job creation in Australia, especially after the COVID-19 pandemic?

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