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Economics

The rate of labor productivity growth in the US economy

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

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.:- M9211347

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