Development of Productivity Resources to Address Problems
https://thehill(dot)com/opinion/finance/564810-as-inflation-and-government-debt-surge-washington-is-ignoring-our-most?rl=1
Read this opinion article from the Hill US long-run productivity (click here )). Do you agree with the article's opinion or not? That is, do you agree the US has a productivity problem or not? If so, what should we do about it? If not, clearly explain why you think the US doesn't have a problem. Be sure to use at least 2 course concepts to support your opinion in your answer. Your answer must be provided in the text box below and be between 200-500 words. Your response is due by Friday October 29 at 11:59 PM (Pacific Time).
Brief opinion is graded on a 5-point scale.
5 Points: Answer between 200-500 words addressing the questions asked and accurately using at least 2 course concepts to support opinion. Turned in before due date and time.
3 Points: Answer between 200-500 words addressing the questions asked but makes some incorrect statements about course concepts. Turned in before due date and time.
0 Points: Everything else.
Brief Opinion
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I agree with the author that the U.S. does indeed have a productivity problem. The slow productivity is affecting the economy’s ability to grow and as the author notes, there is a need for urgent interventions to salvage the situation. The easiest way to measure productivity growth of an economy is to assess the output per hour worked. The Solow model helps provide an accurate picture of this assessment as it combines the major productivity variables defined per unit of labor (per worker) and evaluates the growth rates in the variables under focus.
Production is a function of any country’s real Gross Domestic Product (GDP). The productivity function entails production of goods and services, which depends mainly on the availability of the resources to achieve the appropriate targets. The Solow model then helps in assessing how the different factors. Unfortunately for the United ...