Between October 2004 and October 2005, real GDP in the United States increased by 3.6 percent, while

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Between October 2004 and October 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers?

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Principles Of Macroeconomics

ISBN: 9780374146412

10th Edition

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

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