Article Summary
According to the Office for National Statistics in the United Kingdom,productivity in the UK in 2014 was well below the average of the G7 countries,only faring better than Japan.The G7 is a group of the seven most industrialized countries,and includes Canada,France,Germany,Italy,Japan,the United Kingdom,and the United States.Compared to the G7 average,the UK was 20% less productive per hour worked,and output was also 20% worse when measured on a per worker basis.The productivity gap was the largest for the UK since estimates began in 1991.Worker productivity was lower in all of the G7 nations in 2014 than it would have been had trends prior to the 2007-2009 recession continued,with the productivity gap of 18 percent in the UK significantly higher than the 7% gap for the other G7 nations.In terms of output per hour worked,the UK was behind Germany,France,and the United States by 32 to 33 percentage points.
-Refer to the Article Summary.________ depend on increases in labor productivity.
A) Advances in technology
B) Decreases in the inflation rate
C) Decreases in the unemployment rate
D) Increases in real GDP per capita
Correct Answer:
Verified
Q20: If real GDP in a small country
Q21: Which of the following does not describe
Q22: Human capital refers to which of the
Q24: India's rapid growth can be explained by
A)reduced
Q26: Which of the following describes the growth
Q27: Potential GDP refers to
A)the level of GDP
Q30: If labor productivity growth slows down in
Q34: Which of the following would contribute to
Q39: When production in an economy grows more
Q41: The best measure of the standard of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents