Which variable output or total hours worked increases by a, Ask an Expert

Economics

Output, total hours worked, and average labor productivity all are procyclical. Which variable, output or total hours worked, increases by a larger percentage in expansions falls by a larger percentage in recessions? (Hint: Average labor productivity = output ÷total hours worked, so that the percentage change in average labor productivity equals the percentage change in output minus the percentage change in total hours worked).

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M941025

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