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Questions and Answers
What is labor productivity and how is it measured?
What is labor productivity and how is it measured?
Labor productivity is the output produced per worker. It is measured by dividing the total output by the number of workers.
During the Great Recession, how did labor productivity change for nonfarm businesses?
During the Great Recession, how did labor productivity change for nonfarm businesses?
Labor productivity rose by 3.2% in nonfarm businesses during the Great Recession.
What typically happens to a firm's output and employment during recessions?
What typically happens to a firm's output and employment during recessions?
Firms produce less output as demand falls and typically lay off workers during recessions.
What did a 2017 U.S. Bureau of Labor Statistics study find about output and jobs during the Great Recession?
What did a 2017 U.S. Bureau of Labor Statistics study find about output and jobs during the Great Recession?
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What topics are covered in the Challenge Solution and chapters 7 and 8 of the text?
What topics are covered in the Challenge Solution and chapters 7 and 8 of the text?
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