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Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884Macroeconomics 11th Edition by Michael Parkin
Edition 11ISBN: 9780133423884 Exercise 11
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.
If workers in developing Asian economies work more hours than Americans, why are they not the world's most productive?
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.
If workers in developing Asian economies work more hours than Americans, why are they not the world's most productive?
Explanation
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Here, in the developing Asian countries ...
Macroeconomics 11th Edition by Michael Parkin
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