According to the Bureau of Labor Statistics, during the first quarter of 2015 nonfarm business productivity in
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According to the Bureau of Labor Statistics, during the first quarter of 2015 nonfarm business productivity in the United States fell 3.1 percent and manufacturing productivity fell 1.0 percent compared to the first quarter of 2014. During this same time, real GDP in the United States increased by 2.9 percent. Explain how productivity can decrease when real GDP is increasing.
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Related Book For
Principles of Macroeconomics
ISBN: 978-0134078809
12th edition
Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster
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