Hello Forum,
I would like to know the true meaning behind productivity. Is productivity affected by the quality as well as the quantity of the labour force? How does productivity affect the AD in the short run and LRAS in the long run?
For your information, the question I am referring to is June 2014 AQA Economics question 08. Many people struggled with this according to the examiners report, and it seems like a fundamental analysis that could be tested in the MCQ and 10/25 markers.
Thank you!!