Productivity and Costs The BLS reported the following data for year ended March 2021: In the nonfarm

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Productivity and Costs The BLS reported the following data for year ended March 2021: In the nonfarm sector, output increased 1.1 percent and labor productivity increased 4.1 percent. In the manufacturing sector, output decreased by 0.9 percent and labor productivity increased by 1.8 percent. Did the quantity of labor (aggregate hours) increase or decrease in the nonfarm sector and the mamufacturing sector? In which sector was the change in the quantity of labor larger?

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Economics

ISBN: 9781292433639

14th Global Edition

Authors: Michael Parkin

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