Macroeconomics + Economy 2009 Update 18th Edition by Campbell McConnell, Sean Masaki Flynn,Stanley Brue

Exercise 5

WHAT'S UP WITH PRODUCTIVITY Visit the Bureau of Labor Statistics Web site, www.bls.gov. In sequence, select Productivity and Costs, Get Detailed Statistics, and Most Requested Statistics to find quarterly growth rates (annualized) for business output per hour for the last six quarters. Is the average of those rates higher or lower than the 1.4 percent average annual growth rate of productivity during the 1973-1995 period