Compared to the 1948 to 1973 period, the period from 1973 to 1995 can be characterized as a period of

Question

Quizplus · Accepted Answer

The period from 1973 to 1995 is characterized by slower labor productivity growth compared to the 1948 to 1973 period. This is due to various factors, including the oil crisis of the 1970s, increased global competition, and technological advancements that were not as transformative as those seen in the previous period. Real GDP growth also slowed down during this period, which further supports the conclusion that labor productivity growth was slower. While labor force growth did decline, it was not a defining characteristic of this period. Therefore, the best choice is C - slower labor productivity growth.

Compared to the 1948 to 1973 Period, the Period from 1973