Exam 17: Labor Productivity: Wages,Prices,and Employment

In year 1,an economy used 200 worker hours to produce 500 units of output.In year 2,the economy used 240 worker hours to produce 660 units of output.The rate of productivity growth from year 1 to year 2 is:

Which of the following best describes the relationship between productivity changes and investment during a recession?

Which of the following is not considered a source of increased labor efficiency?

Which of the following will leave unit labor costs unchanged?

One shortcoming of the Bureau of Labor Statistics Index of Labor Productivity is that it:

Under what conditions would we expect to find the greatest growth of output and employment in a specific industry?

In year 1,an economy used 200 worker hours to produce 500 units of output.In year 2,the economy used 240 worker hours to produce 660 units of output.If year 1 is the base year,the productivity index for year 2 is:

Which one of the following most closely corresponds to the average annual rate of productivity growth in the U.S.for the period 1973 - 1995?

According to evidence reported by Jorgenson,Ho,and Stiroh,the most important source of rising labor productivity over the period 1959 - 2006 was:

Suppose demand conditions in industries X and Y are identical but that productivity increases by 5% in industry X and 2% in industry Y.If economy-wide productivity and the average wage each rise by 3%,we should expect that:

Suppose demand conditions in industries X and Y are identical but that productivity increases by 5% in industry X and 2% in industry Y.If economy-wide productivity and the average wage each rise by 3%,we should expect that unit labor costs will:

Which one of the following wage-productivity combinations will place the greatest upward pressure on the price level?

The Bureau of Labor Statistics Index of Labor Productivity:

An economy-wide increase in productivity caused by improved technology would most likely:

Suppose that an economy's real wages and its average productivity are both increasing at a 2% annual rate.Further assume that productivity in industry X is growing at a 4% annual rate.Under what conditions might output and employment in industry X fall?

Productivity growth:

The average quality of labor has increased,partly because the demand for education and health care are:

Which one of the following most closely corresponds to the average annual rate of productivity growth in the United States over the past century?

Suppose productivity stood at 5.00 in year 1,and 5.25 in year 2.If year 1 is the base year,the productivity index for year 2 is:

For the 1948 - 2011 period in the U.S.,the rate of productivity growth in years of declining real output was: