A Compare and contrast the productivity and technology over the entire time period. a. What are the similarities and differences? b. Now look at sub-periods of time (also called subsamples). Macroeconomists tend to see this graph divided into four distinct tỉme periods: I) 1947-1973; II) 1974-1994; II) 1995-2005; and IV) 2005-present. Describe the differences between these periods in both productivity and technologY growth. C. How are Periods I and Il simllar and Perlods IIl and IV similar in terms of their growth? How are Periods I and IIl different from Periods Il and IV?
A Compare and contrast the productivity and technology over the entire time period. a. What are the similarities and differences? b. Now look at sub-periods of time (also called subsamples). Macroeconomists tend to see this graph divided into four distinct tỉme periods: I) 1947-1973; II) 1974-1994; II) 1995-2005; and IV) 2005-present. Describe the differences between these periods in both productivity and technologY growth. C. How are Periods I and Il simllar and Perlods IIl and IV similar in terms of their growth? How are Periods I and IIl different from Periods Il and IV?
Chapter1: Making Economics Decisions
Section: Chapter Questions
Problem 1QTC
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1
Transcribed Image Text:FRED A
Nonfarm Business Sector: Labor Productivity (Output per Hour) for All Employed
Persons
- Total Factor Productivity at Constant National Prices for United States
120
80
60
40
20
10
1950
1960
1970
1980
1990
2000
2010
2020
Sources: BLS, Univ of Gronigen; Univ of California, Davis
fred.stlouisfed.orS
Index 2012=100 , Index 2017=1
Transcribed Image Text:QUESTIONS:
A. Compare and contrast the productivity and technology over the entire time period.
a. What are the similarities and differences?
b. Now look at sub-periods of time (also called subsamples). Macroeconomists tend to see
this graph divided into four distinct time periods:
I) 1947-1973; II) 1974-1994; III) 1995-2005; and IV) 2005-present. Describe the
differences between these periods in both productivity and technology growth.
c. How are Periods I and III simllar and Perlods Il and IV similar in terms of their growth?
How are Periods I and III different from Periods Il and IV?
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