Macroeconomics
Macroeconomics
13th Edition
ISBN: 9780134744452
Author: PARKIN, Michael
Publisher: Pearson,
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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?
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