Transcript Productivity Day 2

Bell Ringer #7 – 1/13/11
1. What role did community play
in the founding of “Food from
the ‘Hood” in South Central
L.A.? (pg 237)
2. What product did the brand
“Straight Out ‘the Garden”
make?
3. How can “public expectations”
contribute to a recession?
Study Guide – Friday’s Ch 10 Quiz
 Define & Calculate GDP Expansion, Peak
 Public Expectations
 GNP
 Underground Economy  Real GDP per capita
 Standard of Living
 Price Index
 Human Development
 Food from the ‘Hood
 Business Cycle
 Recession, Trough
Index
 Labor Productivity
 Productivity Growth
 Underdeveloped Core
Labor Productivity
 Economists focus on productivity
to determine a nation’s capacity to
produce goods.
 Labor Productivity measures how
much each worker produces in a
given period of time, typically an
hour.
Productivity Growth
 Productivity Growth is increase in
output of each worker per hour.

The 3 factors that influence
growth:
1. Level of available technology
2. Quantity of capital goods
available per worker
3. Education and skill level of the
labor force
Country “W”
2009
Personal Consumption (C) $7.5 million
Investments (I)
6 million
Government Spending (G) 5.5 million
Exports (X)
Imports (M)
GDP
2.6 million
3.6 million
?