State the relationship between productivity and product cost

Reference no: EM133630276

Based on the textbook, economists often raise concerns that higher wages will put upward pressure on inflation in Canada, however Steven Poloz, former governor of the Bank of Canada recently stated that in this economy, giving higher wage increases to workers may not cause inflation this time. Explain why? 3 Marks

b) State the relationship between productivity and product costs?

c) How can management improve earnings and increase wages at the same time? Explain

Reference no: EM133630276

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