Already have an account? Get multiple benefits of using own account!
Login in your account..!
Remember me
Don't have an account? Create your account in less than a minutes,
Forgot password? how can I recover my password now!
Enter right registered email to receive password!
The End of the Productivity Slowdown
As computers improved and spread throughout the U.S. economy in 1970's and 1980's economists kept waiting to see the wonders of computing show through in national productivity. However it didn't happen. Productivity growth slowdown continued during the 1970s and 1980s. This surprising phenomenon came to be called 'the computer paradox' after Robert Solow's famous 1987 observation that: 'we see the computer age everywhere besides in the productivity statistics.
Since 1995 though productivity growth in the American economy has accelerated once again to a pace of 2.1% per year. Half a decade is a very short time on which to pin any long-run trend though there is certainly reason to hope that productivity slowdown has come to an end.
U.S. economy has benefited from a stunning investment boom since 1992. Between 1992 and 1998 real GDP rose by an average of 3.6% per year and business fixed investment soared at a 10.1% average rate--almost 3 times as fast. As a consequence share of business fixed investment in GDP jumped from 9.2% to 13.2% with much of the extra investment going into computers and related equipment. At least one major economic forecasting business attributes recent acceleration in productivity growth to this investment boom, a huge share of that is driven by rapidly-falling price of computers.
There is every reason to expect technological progress in computer and communications sectors to continue. In addition there is every reason to expect these useful technologies to continue to diffuse through the economy. So the best bet in forecasting future productivity growth is to project what has happened in past half-decade forward. If these projections are accurate then productivity slowdown has been brought to an end and its technological revolution in computers and communications that has done it.
the demand and supply functions for goods are given by demand:Pd=50-3Qds and supply:Ps=14=1.5Qs. where p is the price of a pair of jeans, Q is the number of pairs of jeans a) calc
The income elasticity of demand calculates the responsiveness of the quantity demanded of a commodity to changes in consumers' incomes. This is typically calculated by replacing t
if the inverse demand curve is p=120-Qand the marginal cost is const ant at 10 ,
equation for a demand curve is p=2/q. what is the elasticity of demand if price falls from 5 to 4
1. Utilize Okun's law to answer the questions below; u t - u t-1 = -0.4(g yt - 3%) Assuming u t-1 = 7% a. Calculate the change in u (u t - u t-1 ) for each of the follo
Demand is defined as a schedule of the quantities fo good that will be purchased at various prices similarly the supply refers to the schedule of the quantities of a good that will
Q. Strength of the multiplier in microeconomics? Multiplier: An initial stimulus to spending (in form of new consumer, business or government purchases) generally results in a
2) Proctor & Gamble (P&G) and the Lever Co. decide to form a laundry detergent cartel for future sales in Europe. Lever is more efficient than P&G. a)illustrate graphically how the
the basics in micro economics
Suppose that two anti-marijuana proposals are currently being debated in Congress. Proposal I will reduce the supply of marijuana and cause its price to rise by 7%. Proposal II wil
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!
whatsapp: +1-415-670-9521
Phone: +1-415-670-9521
Email: [email protected]
All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd