Econ HW 1 - Homework #1 1. Graph 1 describes the long term...

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Homework #1 1. Graph 1 describes the long term trends in labor productivity in US manufacturing. Both graphs have the same variable on the horizontal axes (x-axes). In Graph 1, its vertical axis (y-axis) represents the labor productivity (output per person) in the US manufacturing. One can easily conclude that the labor productivity (output per person) roughly increases over time. Graph 2 is more detailed. Its vertical axis represents the quarterly percentage change of productivity in US manufacturing. It shows the percentage increase or decrease of productivity in each quarter. However, the Graphs 2 doesn’t show the level of productivity in each year as a whole. Therefore, Graphs 1 is a better one for viewing the long term trend. 2. From Graph 2, there was a fall in labor productivity during following quarters: Second quarter of 1989 through fourth quarter of 1989 Fourth quarter of 1990 through first quarter if 1991 First quarter of 1996 Third quarter of 2000 through first quarter of 2001
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This note was uploaded on 04/19/2008 for the course ECON 201 taught by Professor Haideh during the Fall '07 term at W. Alabama.

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Econ HW 1 - Homework #1 1. Graph 1 describes the long term...

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