1.2.8 According to the Bureau of Labor Statistics, during the first quarter of 2015 nonfarm business productivity...

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1.2.8 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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Principles Of Economics

ISBN: 9780802845610

12 Global Edition

Authors: Karl E. Case, Ray C. Fair, Sharon E. Oster

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