Web Links

• p. 199: Go to http://pwt.econ.upenn.edu/php_site/pwt_index.php to get the latest figures and estimates on economic growth throughout the world.
• p. 202: Go to http://www.bls.gov/mfp/ for informaqtion about the latest trends in U.S. labor productivity.
• p. 212: Go to http://www.worldbank.org/poverty/ to contemplate whether there may be a relationship between inequality and a nation's growth and on http://www.worldbank.org/poverty/inequal/index.htm to visit the home page of the World Bank's Thematic Group on Inequality, Poverty, and Sociaeconomic Performance.
• p. 213: Go to http://www.wto.org/english/thewto_e/whatis_e/10ben_e/10b07_e.htm to link to a World Trade Organization explanation of how free trade promotes greater economic growth and higher employment.

Issues and Applications Web Resources:

• RTo learn more about the broader economic implications of the relationship between the stock market and productivity, go to the link to the home page of the Federal Reserve Bank of Dallas at http://www.dallasfed.org/. Click on "Economic Research" and then on "Southwest Economy," scan down to "January/February 2000," and download that issue to read Evan Koenig’s paper entitled "Productivity, the Stock Market, and Monetary Policy in the New Economy."
• To track the latest trends in U.S. business productivity, go to the home page of the Bureau of Labor Statistics at http://www.bls.gov/.

Multifactor Productivity and Its Growth
Growth in productivity is a key factor determining a nation's overall economic growth.

     Title: Bureau of Labor Statistics: Multifactor Productivity Trends

     Navigation: Use http://www.bls.gov/mfp/ to visit the multifactor productivity home page of the Bureau of Labor Statistics.

Application
Read the summary and answer the following questions.

1. What does multifactor productivity measure? Based on your reading of this chapter, how does multifactor productivity relate to the determination of economic growth?

2. Click on Manufacturing Industries: Multifactor Productivity Trends. According to these data, which industries have exhibited the greatest productivity growth in recent years?