The Dramatic Slowdown in Productivity Growth Experienced After the Great

question 235

Multiple Choice

The dramatic slowdown in productivity growth experienced after the Great Recession

• A) is believed by most economists to be a permanent shift in the economy.
• B) is still debated among many economists as to whether it represents a permanent shift in the economy.
• C) suggests that prospects for lasting increases in productivity growth are rather poor.
• D) suggests that productivity growth can occur without raising the nation's standard of living.

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Definitions:

Macroeconomics

The branch of economics that studies overall economic factors, such as national productivity, total national income, and the overall levels of prices and employment.

Post Hoc, Ergo Propter Hoc

Literally, “after this (in time), therefore because of this.” A common error made in thinking about causation: If Event A happens before Event B, it is not necessarily true that A caused B.

Fallacy

A flawed argument that uses poor reasoning or misrepresents evidence, often leading to incorrect conclusions.

Inductive Reasoning

A reasoning method that involves generalizing from a set of specific observations to reach a broader conclusion.