Asked by
Lillian Hoyer
on Nov 11, 2024Verified
Productivity growth in the U.S.averaged approximately 3 percent per year between 1947 and 1973;it has averaged approximately 5 percent annually since then.
Productivity Growth
The rate at which a company or country can produce more goods or services with the same amount of labor and resources.
U.S.
The United States of America is a country consisting of 50 states, a federal district, five major self-governing territories, and various possessions, known for its significant influence in global political, cultural, and economic affairs.
Percent
A mathematical term used to describe a number as a fraction of 100.
- Distinguish the historical trends and patterns in the growth of GDP and productivity in the U.S.
Verified Answer
GH
Learning Objectives
- Distinguish the historical trends and patterns in the growth of GDP and productivity in the U.S.