Problem Set 1.pptx - Problem Set#1 Jack Limongelli Question...

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Problem Set #1 Jack Limongelli
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Question 1, Part A Annual GDP from 1965 to 2015
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Question 1, Part A Annual Labor Compensation from 1965 to 2014
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Question 1, Part A Growth Rates of GDP and Labor Compensation 1965-1980 1980-1990 1990-2000 2000-2015 1965-2015 Growth Rate of GDP 9.4015 7.6447 5.5729 3.7779 6.4498 Growth Rate of Labor Compensation 9.6870 7.4713 5.7681 3.0931 6.5731 The growth rates are nearly identical for all periods. This is not surprising considering GDP is equal to production, which is equal to income. Growth in GDP, production, inherently leads to growth in labor compensation, income.
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Question 1, Part B Proprietors’ income with inventory valuation and capital consumption adjustments Nonfarm; 1970-2015
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Question 1, Part B Proprietors’ income with inventory valuation and capital consumption adjustments Farm; 1970-2015
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Question 1, Part B 1 2 3 4 5 6 7 8 9 10 11 12 13 14 15 16 17 18 19 20 21 22 23 24 25 26 27 28 29 30 31 32 33 34 35 36 37 38 39 40 41 42 43 44 45 0 10 20 30 40 50 60 70 Graph of Labor’s % Share of Income; 1970-2015 This graph shows a fairly consistent measure of Labor’s Share of Income: remaining between 60% and 65% from 1970 to 2015.
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