eco-journal24 - DucHoangEcon210 Journaldate11/6...

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

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eco-journal24 - DucHoangEcon210 Journaldate11/6...

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