During dec. 2007 and dec. 2008 measured rgdp in economy, Ask an Expert

Economics

During Dec. 2007 and Dec. 2008, measured RGDP in economy fell by 1 percent as the US economy sank into a recession. Over that same time period total employment in terms of hours worked declined by 3.7 percent and the unemployment rate rose sharply from 4.6 percent to 7.2 percent

What can you infer from this data about the rate of labor productivity growth in the US economy during this period?

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M9309069

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