| There are two widely accepted measures of productivity: labour productivity and multifactor productivity. |
| This, Mr Greenspan argues, suggests that multifactor productivity growth must have increased. |
| A prime example is our finance course, where we have covered fixed-income markets, capital markets, portfolio management and evaluation, multifactor models, and capital budgeting in the first three months. |
| In principle, multifactor productivity could depend upon many factors, including measures of technological capacity or knowledge, and measures of the efficiency with which capital and labour are used. |
| The multifactor productivity gain in 2002 reflected a decline in sectoral output coupled with a smaller decline in combined inputs. |
| Standards can thus potentially play an important role in enhancing multifactor productivity. |
