Question

3. Changes in output and unemployment A Aa Suppose that during some period in the economic history of the United States, its output growth was 3.3% and labor productivity growth was 2.3%. What was the most likely time frame for this period? O From 1949 to 1982 From 1970 to 2010 From 1982 to 2010 Which of the following facts about compensation in the United States are true? Check all that apply. Compensation growth has been increasing rapidly since the 1950s Compensation growth increased during the reorganization period, even though labor productivity growth slowed Compensation growth equaled the growth in labor productivity, with both averaging 2.6% per year In the last 20 years, the growth of workers' compensation relatively slow

Answer 1

Solution:

Question 3:

(a) From 1982 - 2010, the output growth was 3.2% and labor productivity growth was 2.3%. This assumption is based on the data given by The New York Times after 2010.

(b) Compensation growth has been increasing rapidly since the 1950s and compensation growth equaled the growth in labor productivity , with both averaging 2.6% per year. Both statements are correct while others are incorrect because it has been assumed on basis of the data given.