How is it possible for output-increase without proportional


Between October 2004 and 2005, real GDP in the United States increased by 3.6 percent, while nonfarm payroll jobs increased by only 1.4 percent. How is it possible for output to increase without a proportional increase in the number of workers? What are the implications in our economy of more output being produced by less workers?

Request for Solution File

Ask an Expert for Answer!!
Microeconomics: How is it possible for output-increase without proportional
Reference No:- TGS068021

Expected delivery within 24 Hours