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Copyright © 2011 Pearson Addison-Wesley. All rights reserved. Productivity, Output, and Employment Chapter 3.

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Presentation on theme: "Copyright © 2011 Pearson Addison-Wesley. All rights reserved. Productivity, Output, and Employment Chapter 3."— Presentation transcript:

1 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. Productivity, Output, and Employment Chapter 3

2 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-2 Figure 3.1 The Production Function Relating Output and Capital

3 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-3 Figure 3.2 The marginal product of capital

4 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-4 Figure 3.3 The production function relating output and labor

5 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-5 Figure 3.10 Labor market equilibrium

6 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-6 Figure 3.7 The labor supply curve of an individual worker

7 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-7 Figure 3.8 The effect on labor supply of an increase in wealth

8 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-8 Figure 3.12 Relative price of energy,

9 Copyright © 2011 Pearson Addison-Wesley. All rights reserved. 3-9 Table 3.4 Employment Status of the U.S. Adult Population, June 2009

10 Copyright © 2011 Pearson Addison-Wesley. All rights reserved Figure 3.13 Changes in employment status in a typical month (June 2007)

11 Copyright © 2011 Pearson Addison-Wesley. All rights reserved Figure 3.14 Okun’s Law in the United States: Sources: Real GDP growth rate from Table from Bureau of Economic Analysis Web site, Civilian unemployment rate for all civilian workers from Bureau of Labor Statistics Web site, data.bls.gov.www.bea.gov/bea/dn/nipaweb


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