Key Concepts: Defining Economic Growth, The Determinants of Growth, Productivity
U.S. Bureau of Labor Statistics—Productivity
Click on "Productivity" in the "Latest Numbers" box. Review the most
recent quarterly update information on "Productivity and Costs."
- Compare the current U.S. quarterly productivity performance in relation
to the last quarter (e.g. positive or negative).
- Assess whether the current U.S. quarterly productivity gain or loss is driven
more by a change in "output" level or "labor" hours during
the last quarter. (Note that productivity measures output generated per labor
hour in the economy).
- Review historical "total factor" productivity
index information (1948–1999)
and determine if the growth of "total factor productivity" in the
U.S. accelerated or decelerated in the 1990s. Explain what potential factors
have driven this trend.
- Review the service offered by AskMeCorp.com
and explain how
this type of "new economy" business raises the level of productivity.
