Learning Goal: I’m working on a economics writing question and need an explanation and answer to help me learn.Details of taskRead the articles“Global productivity is slowing down: Three possible explanations”“What’s needed to improve productivity growth”“Australian productivity trends and the effect of structural change”Write an essay to address the following questions:What is the difference between the labor 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?Please note: students must write an essay to address these questions in a coherent way, rather than a Q&A style writing.
Requirements: Must not exceed 1,500 words | .doc file
