eco-journal24

eco-journal24 - DucHoangEcon210 Journaldate11/6...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Duc Hoang – Econ 210 Journal date 11/6 Worker Productivity Slowed as Consumer Spending Fell By THE ASSOCIATED PRESS Published: November 6, 2008 “The Labor Department reported Thursday that productivity — the amount  an employee produces for every hour on the job — grew at an annual pace  of 1.1 percent in the third quarter, down from a 3.6 percent growth rate in  the second quarter “(NY TIMES). A huge pull back in consumer spending  caused a considerable decrease in the aggregate demand. At the this time  when market price is pretty sticky, this drop creates the rachet effect which 
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

This note was uploaded on 03/10/2011 for the course ECON 101 taught by Professor Duc during the Spring '05 term at Linfield.

Page1 / 2

eco-journal24 - DucHoangEcon210 Journaldate11/6...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online