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The following list of countries by labour productivity ranks countries by their labour productivity (also called workforce productivity). Labour productivity is the gross domestic product generated per hour of working time .
Workforce productivity is the amount of goods and services that a group of workers produce in a given amount of time. It is one of several types of productivity that economists measure. Workforce productivity, often referred to as labor productivity , is a measure for an organisation or company, a process, an industry, or a country.
Money portal. v. t. e. Productivity is the efficiency of production of goods or services expressed by some measure. Measurements of productivity are often expressed as a ratio of an aggregate output to a single input or an aggregate input used in a production process, i.e. output per unit of input, typically over a specific period of time. [1]
As of 2022, Colombia, Mexico, and Costa Rica ranked the highest number of hours worked per year. Greece ranked the highest In EU with 1886 average hours per year, while Germany ranked the lowest with 1340 average hours worked respectively. [3][4] Japan and Canada ranked lowest amongst non-European countries.
The Malmquist Index (MI) is a bilateral index [a] that can be used to compare the production technology of two economies. It is named after Professor Sten Malmquist, on whose ideas it is based. It is also called the Malmquist Productivity Index. The MI is based on the concept of the production function. This is a function of maximum possible ...
The Solow residual is a number describing empirical productivity growth in an economy from year to year and decade to decade. Robert Solow, the Nobel Memorial Prize in Economic Sciences -winning economist, defined rising productivity as rising output with constant capital and labor input. It is a "residual" because it is the part of growth that ...
The productivity paradox refers to the slowdown in productivity growth in the United States in the 1970s and 1980s despite rapid development in the field of information technology (IT) over the same period. The term was coined by Erik Brynjolfsson in a 1993 paper ("The Productivity Paradox of IT") [1] inspired by a quip by Nobel Laureate Robert ...
Marginal cost (MC) is the change in total cost per unit change in output or ∆ C /∆ Q. In the short run, production can be varied only by changing the variable input. Thus only variable costs change as output increases: ∆ C = ∆ VC = ∆ (wL). Marginal cost is ∆ (Lw)/∆ Q. Now, ∆ L /∆ Q is the reciprocal of the marginal product of ...