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Research and development and the level of technology

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There are several important factors that determine a country's total factor productivity, the source of sustained increases in labor productivity; which then also increases the standard of living. There are the five factors that determine total factor productivity. This includes:

1. Research and development and the Level of Technology
2. Quality of Labor
3. Government and Social Institutions
4. Geography
5. The Financial System

In your own words, please provide a short sentence of the examples of each total factor productivity

Reference no: EM13498442

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