Chat with AI
Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 9
Use the following news clip to work Problem
U.S. Workers World's Most Productive
Americans work longer hours than those in other rich nations. Americans also produce more per person but only part of the U.S. productivity growth can be explained by the longer hours they work. Americans also create more wealth per hour of work. U.S. employees worked an average of 1,804 hours in 2006, compared to 1,564.4 for the French, but far less than the 2,200 hours that Asians worked. But in Asian countries the average labor productivity is lower.
Identify and correct a confusion between levels and growth rates of productivity in the news clip.
U.S. Workers World's Most Productive
Americans work longer hours than those in other rich nations. Americans also produce more per person but only part of the U.S. productivity growth can be explained by the longer hours they work. Americans also create more wealth per hour of work. U.S. employees worked an average of 1,804 hours in 2006, compared to 1,564.4 for the French, but far less than the 2,200 hours that Asians worked. But in Asian countries the average labor productivity is lower.
Identify and correct a confusion between levels and growth rates of productivity in the news clip.
Explanation
Verified
Verified
Productivity growth and productivity lev...
Macroeconomics 11th Edition by Michael Parkin
Why don’t you like this exercise?
Other Minimum 8 character and maximum 255 character
Character 255
