From 1950 to 2000, manufacturing employment as a percentage of total employment in the U.S. economy fell

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From 1950 to 2000, manufacturing employment as a percentage of total employment in the U.S.

economy fell from 28 percent to 13 percent. At the same time, manufacturing output experienced slightly more rapid growth than the overall economy.

a. What do these facts say about growth in labor productivity (defined as output per worker) in manufacturing?

b. In your opinion, should policymakers be concerned about the decline in the share of manufacturing employment? Explain.

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Principles Of Macroeconomics

ISBN: 9780324589993

5th Edition

Authors: N. Gregory Mankiw

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Question Posted: Sep 27, 2024 10:01 AM

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From 1950 to 2000, manufacturing employment as a percentage of total employment in the U.S. economy fell

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Principles Of Macroeconomics

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