Chapter 12 (Long-run growth)

1. How have U.S. productivity (Y/L) and technology (A) grown over time? Use the US productivity (Y/L) and technology (A) variables from the data table above to construct a graph from 1947:Q1 to 2021:Q2 using LINE 1 and LINE 2. Format the graph to convert the variables to have log scales and put them on separate Y-axes (left and right). NOTES: Productivity is quarterly and technology is annual, but that's okay. With log scales, the slope of a variable reflects its growth rate over time.

[INSERT FIGURE 1 HERE]