Purchase Solution

Productivity

Not what you're looking for?

Ask Custom Question

Between March 2001 (the official start of the recession) and March 2002, measured RGDP in the economy actually rose by about 2.5%, even though total employment in terms of hours worked declined by 1.8% and the unemployment rate rose sharply from 4.3% to 5.8% (The GDP Deflator only increased by about 1% - 1.4% during this period)(This tendency for employment to decline despite growth in RGDP continued up to and right through the summer of 2003)

1. What can you infer from this data about labor productivity growth in the US economy during the period March 2001-March 2002? Give a numeric answer if possible and explain your answer in a few sentences.

Purchase this Solution
Solution Summary

What can you infer from this data about labor productivity growth in the US economy during the period March 2001-March 2002?

Solution Preview

Productivity is a measure of resource or input efficiency expressed in terms of a ratio: Productivity = output/input. Productivity tells us how many units of output we can obtain from a unit of inputs. If output per unit of input increases, productivity has risen. ...

Purchase this Solution
Free BrainMass Quizzes
Economic Issues and Concepts

This quiz provides a review of the basic microeconomic concepts. Students can test their understanding of major economic issues.

Pricing Strategies

Discussion about various pricing techniques of profit-seeking firms.

Economics, Basic Concepts, Demand-Supply-Equilibrium

The quiz tests the basic concepts of demand, supply, and equilibrium in a free market.

Elementary Microeconomics

This quiz reviews the basic concept of supply and demand analysis.

Basics of Economics

Quiz will help you to review some basics of microeconomics and macroeconomics which are often not understood.

View More Free Quizzes
Related BrainMass Solutions

  • What is average productivity? What is marginal productivity?

    496467 What is average productivity? What is marginal productivity? What is average productivity? What is marginal productivity? Explain the relationship between average and marginal productivity.

  • Assessing Key Productivity Measurements

    What are United's 20X0 productivity and 20X1 productivity without BTL? 2. What are BTL's 20X1 productivity and United's 20X1 productivity with BTL? 3. What difficulties do you foresee if United brings BTL's productivity in line?

  • Productivity Measure with a single input and output

    Productivity= Output/Input Hence in 1996 , Productivity = 300/1400= 0.214 In 1997, Productivity = 250/1200= 0.208 Percentage Increase in productivity= (1997 Productivity-1996 Productivity)/1996 Productivity =(.208-.214)/.214 =-2.8% Thus

  • Average vs marginal productivity

    282926 Average vs marginal productivity What is average productivity? What is marginal productivity? Explain the relationship between marginal and average productivity.

  • Operations and supply management: Change in productivity

    Hi, Productivity = No of parcel deliveries/No of drivers Productivity in 2007 = 103000/84 = 1226.2 Productivity in 2008 = 112000/96 = 1166.7 % change in productivity = (Productivity in 2008 - Productivity in 2007)*100/Productivity in 2007

  • It is sometimes easy to overlook the importance of productiv

    High productivity and high standard of living go hand-in-hand. If a country becomes more service-based, as the United States has become, some (but not all) high-productivity manufacturing jobs are replaced by lower-productivity service jobs.

  • Productivity ratios

    Productivity = Output/Input In single factor productivity there is only one input, therefore single factor productivity = Output/Input In multi-factor productivity there are multiple inputs i.e. sum of inputs is used.

  • Marginal change of Total Productivity

    The difference between total productivity and marginal productivity is given.

  • Calculating the productivity ratio in the given case

    If they can increase the rate to 125 per day, what will be their new productivity? c) What will be their unit increase in productivity per hour? d) What will be their percentage change in productivity? a) What is their productivity?

  • Productivity Analysis and Improvement Initiatives

    The ultimate aim of productivity analysis is to increase productivity per unit of input. Dell uses two methods for measuring productivity.

View More Related Solutions