Think about what you know about the history of any economy in the world. What country? What time period? Discuss one change that boosted the efficiency of labor (E) in that economy. Did the change boost only the level of E, or the growth rate of E? Discuss

Think about what you know about the history of any economy in the world. What country? What time period? Discuss one change that boosted the efficiency of labor (E) in that economy. Did the change boost only the level of E, or the growth rate of E? Discuss

 

 

Answer:

The country is India. The time period is from the new economic reforms period from 1992. From that time period, the era of globalisation started and new employment opportunities boosted up in the economy. The employers were keen to give employment and work to the unemployed. In turn, the efficiency of labour also boosted up and effort they make. And the change not only boost the efficiency level, but an all around change in the economy has also happened.

Asked on February 14, 2018 in economics.
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