Why do some people think that the productivity slowdown since 1973 is just a return to normalcy after fast productivity growth during the previous 25 years?
A)Productivity growth of the previous 25 years was abnormally low.
B)The Great Depression and World War II had prevented technological opportunities from being exploited.
C)The United States is the only country to face the slowdown, due to poor regulatory decisions.
D)The United States has allowed countries like Japan to steal its technological breakthroughs.

Question

Quizplus · Accepted Answer

During the period from 1948-1973, the US experienced a surge in productivity growth due to several factors such as technological advancements, increased education of the workforce, and stable macroeconomic policies. However, during the 1930s and 1940s, the Great Depression and World War II prevented technological opportunities from being fully exploited. Therefore, the slow productivity growth from 1973 onwards can be seen as a return to normalcy after a period of fast productivity growth.

Why Do Some People Think That the Productivity Slowdown Since