Identify n correct confusion between levels and growth rates

Assignment Help International Economics
Reference no: EM13235909

American workers stay longer in the office, at the factory, or on the farm than their counterparts in Europe and most other rich nations, and they produce more per person over the year. Productivity is found by dividing the country's gross domestic product by the number of people employed. Only part of the US productivity growth, can be explained by the longer hours Americans are putting in [The US] also beats all 27 nations in the European Union, Japan, and Switzerland in the amount of wealth created per hour of work.The US employee put in an average 1,894 hours of work in 2006.c ompared with 1.407.1 hours for Norwegian worker and 1,564.4 for the French. It pales, however, in comparison with the annual hours worked per person in Asia, where seven economies - South Korea, Bangladesh, Sri Lanka, Hong Kong, China, Malaysia and Thailand - surpassed 2,200 average hours per worker. But those countries had lower productivity rates.... CBS News, September 3, 2007

a) What is the difference between productivity in this article and per capita real GDP?

b) Identify and correct confusion between levels and growth rates of productivity in the news article.

c) If workers in developing Asian economies work more hours than Americans, why are they not the world's most productive?

Reference no: EM13235909

By which the nations can support their domestic industries

In an effort to encourage free trade, imagine that the members of the World Trade Organization agreed to dismantle all tariff protection of domestic industries in their resp

Impact of foreign imports on domestic price and quantity

Make a domestic supply and demand diagrams for an item in which the U.S. does not have a comparative advantage. Discuss what impact do foreign imports have on domestic price a

What will happen to gdp in germany

Due to the problems in countries such as Spain, Italy and Greece; Germany had (and is having) an inflow of workers looking for jobs (and better conditions) from these countr

What types of depository institutions are found in the us

(Depository Institutions) What is a depository institution, and what types of depository institutions are found in the United States How do they act as intermediaries betwe

How deveopment will development will affect us net capital

Explain how this deveopment will development will affect U.S net capital outlfow. then explain how it will affect U.S net exports by using a fomula fromt eh chpater and by d

What is the growth rate of constant- dollar

Year 1 Year 2 Quantity Price Quantity Price Oranges 100 $5 150 $5 Pears 100 $3 75 $4 1) what is the growth rate of constant- dollar real gdp using year 1 as the base year What

Explain predicted impact of foreign expansionary policy

Suppose that governments around the world begin to engage in expansionary fiscal policy (run large budget deficits) in order to stimulate economic activity in their countrie

Describe two condition necessary for a strong santa ana wind

Describe the two conditions necessary for a strong Santa Ana wind (Hint: think temperature and pressure). Describe the seasonal dependence of Santa Ana winds and what explai


Write a Review

Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd