What were the percent changes in business and nonfarm business productivity for the previous quarter and how does the percent change in that quarter’s productivity compare to the percent change from the same quarter a year ago. Concept Introduction: Gross Domestic Product (GDP): All the finished goods and the services produced by the normal resident and nonresident people, have some gross money value or gross market value, these goods and services are prepared within the borders of the country in an accounting year. Labor Productivity: It is one of the factors of measuring economic growth as the labor productivity calculated the GDP which is contributed by a labor in each hour.

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Chapter 9, Problem 5P

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What were the percent changes in business and nonfarm business productivity for the previous quarter and how does the percent change in that quarter’s productivity compare to the percent change from the same quarter a year ago.

Concept Introduction:

Gross Domestic Product (GDP): All the finished goods and the services produced by the normal resident and nonresident people, have some gross money value or gross market value, these goods and services are prepared within the borders of the country in an accounting year.

Labor Productivity: It is one of the factors of measuring economic growth as the labor productivity calculated the GDP which is contributed by a labor in each hour.

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