Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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Question
Chapter 6.4, Problem 3RQ
To determine
Explain the pace of labor productivity growth.
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Which of the following does NOT influence the
growth of labor productivity?
discovery of new technologies
saving and investment in physical capital
population growth
expansion of human capital
What are the effects of an increase in labor productivity on potential GDP, the quantity of labor, the real wage rate, and potential GDP per hour of labor?
What has happened to the rate of productivity
growth over the past 50 years? How might you
explain this phenomenon?
Chapter 6 Solutions
Macroeconomics
Ch. 6.1 - Prob. 1RQCh. 6.1 - Prob. 2RQCh. 6.1 - Prob. 3RQCh. 6.2 - Prob. 1RQCh. 6.2 - Prob. 2RQCh. 6.2 - Prob. 3RQCh. 6.3 - Prob. 1RQCh. 6.3 - Prob. 2RQCh. 6.3 - Prob. 3RQCh. 6.3 - Prob. 4RQ
Ch. 6.3 - Prob. 5RQCh. 6.3 - Prob. 6RQCh. 6.4 - Prob. 1RQCh. 6.4 - Prob. 2RQCh. 6.4 - Prob. 3RQCh. 6.5 - Prob. 1RQCh. 6.5 - Prob. 2RQCh. 6.5 - Prob. 3RQCh. 6 - Prob. 1SPACh. 6 - Prob. 2SPACh. 6 - Prob. 3SPACh. 6 - Prob. 4SPACh. 6 - Prob. 5SPACh. 6 - Prob. 6SPACh. 6 - Prob. 7SPACh. 6 - Prob. 8SPACh. 6 - Prob. 9APACh. 6 - Prob. 10APACh. 6 - Prob. 11APACh. 6 - Prob. 12APACh. 6 - Prob. 13APACh. 6 - Prob. 14APACh. 6 - Prob. 15APACh. 6 - Prob. 16APACh. 6 - Prob. 17APACh. 6 - Prob. 18APACh. 6 - Prob. 19APACh. 6 - Prob. 20APACh. 6 - Prob. 21APACh. 6 - Prob. 22APACh. 6 - Prob. 23APACh. 6 - Prob. 24APACh. 6 - Prob. 25APA
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- Why do you think it is difficult for high-income countries to achieve high growth rates?arrow_forwardExplain why there is such a close relationship between changes in a nation’s rate of productivity growth and changes in its average real hourly wage.arrow_forwardExplain the consequences of both too low and too high a growth ratearrow_forward
- What policies should the United States pursue to encourage economic growth? In what ways do these policies promote gains in productivity or support advances in technology and innovation?arrow_forwardOutline the main factors which determine the level of productivity in a country.arrow_forwardList the four major elements that determine productivity growth. Choose one of these factors and explain, using specific examples, the role that it has played in increasing productivity in the united states.arrow_forward
- Explain the sources of productivity growth in an economy. Be precise, and make sure you are covering all of the mechanisms through which productivity changes in time.arrow_forwardwhat does it mean by productivity, why it is important and how to improve productivity growth for an economyarrow_forwardWhat is the impact of productivity growth on a nation's inflation rate or level?arrow_forward
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