Answer:
Factors determining the rate of productivity growth in Australia
are mentioned below:
- The degree to which there's scope for a nation (Australia) to
receive best-practice technology from other nations.
- Rate of productivity growth will also depend on the level of
investment in certain sorts of physical capital (e.g. plant and
hardware and core public infrastructure)
- Productivity growth will also depend on the resources which are
being dedicated in the field of research and development.
- The level of human capital of the labor force will also decide
productivity.
- The macroeconomic environment and nature of social and economic
institition that Australia posses will also decode the rate of
productivity growth.
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