Macroeconomics
13th Edition
ISBN: 9781337617390
Author: Roger A. Arnold
Publisher: Cengage Learning
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Question
Chapter 17, Problem 4WNG
To determine
Impact of change in the labor market on GDP and long run
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Present an analysis that shows how an increase in labor productivity (perhaps from more investment or perhaps from improved technology) will tend to impact the economy. Identify which of your results fit what we actually observe for the U.S. economy over time. Complete your answer to this question by identifying one economic policy you think will help enhance labor productivity.
Which of the following are domestic economic factors
you would consider for macroeconomic analysis ?
Gross domestic product
Unemployment rates
inflation and interest rate
Consumer sentiment
All of the above
Explain how a technological advancement in one sector of the economy can lead to a change in the number of people who work in another sector of the economy. Give an example to help support your answer.
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