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Question 1. Visit the Bureau o

Question 1. Visit the Bureau o

Question
1. Visit the Bureau of Labor Statistics (BLS) page onQuarterly Labor Productivity at http://www.bls.gov/lpc/ to get thelatest news release on productivity and costs. Rank the various sectors of the U.S. economy from highest to lowestaccording to their most recent productivity growth rates. Does what you found makes sense? Why or why not?

2. The BLS also compiles international data on manufacturingproductivity athttp://stats.bls.gov/news.release/prod4.toc.htm.Find which nations have enjoyed the most rapidgrowth in manufacturing productivity for the most recent period.Which nations have experienced the slowest growth? Has productivityactually declined anywhere? How could this be related tothe convergence theory explained in this chapter?

3. Technological change is an important driver of economic growth.Find a story about a recent innovation in the“Technology” column in the Wall Street JournalMarketplace section (or a similar and reputable site, try Inc. Magazine, Entrepreneur Magazine, Money, Time, Bloomberg News, etc.).How will this innovation affect the U.S. production possibilitiesfrontier? Does it seem likely to affect employment as well? If so,which types of workers will be harmed, and which will benefit?

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