Final answer:
Productivity can be measured in various ways, with GDP per worker being a common macroeconomic measure. It reflects how much value each worker creates and is an essential factor in long-term economic growth and standards of living. Worker efficiency affects productivity and competitiveness on a domestic and global scale.
Step-by-step explanation:
Yes, there are multiple ways to measure productivity beyond the simple metric of the amount produced per hour of work. Productivity is essentially the output per unit of input. One common method for measuring productivity is by looking at GDP (output) per worker (input). This provides a macroeconomic perspective on productivity, reflecting the efficiency and effectiveness of a country's workforce.
Furthermore, sustained long-term economic growth is closely tied to improvements in worker productivity. The more productive workers are, the more they can produce in the same amount of time, which in turn can lead to economic prosperity and higher standards of living. An efficient use of time and resources in labour can fundamentally lead to more free resources and a potential for higher wages and investment in other sectors of the economy.
In a theoretical example, comparing workers from two different countries, such as Canada and the United States, can provide insight into relative productivity levels. If a Canadian worker can produce 10 loaves of bread in an hour whereas a U.S. worker can only make two, it suggests that the Canadian worker is more productive. Such relative measures of productivity can be critical for understanding international competitiveness and economic potential.