High oil prices consistently explain why productivity growth rates slow down.

Question

Quizplus · Accepted Answer

High oil prices can contribute to economic slowdowns by increasing production costs and reducing consumer spending power, but they do not consistently explain why productivity growth rates slow down. Productivity growth is influenced by a variety of factors including technological advancements, labor market dynamics, capital investment, and regulatory policies.

High Oil Prices Consistently Explain Why Productivity Growth Rates Slow