Productivity Growth Was Greater Between 1973 and 1995 Than Between

question 61

True/False

Productivity growth was greater between 1973 and 1995 than between 1995 and 2012.

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Definitions:

Producer Surplus

The difference between what producers are willing to accept for a good versus what they actually receive, due to higher market prices.

Consumer Surplus

The contrast between the total price consumers are prepared to pay for a good or service and what they end up paying in reality.

Consumer Surplus

The contrast between the total sum consumers are ready and financially equipped to spend on a good or service, and the sum they actually spend.

Producer Surplus

The divergence between the price at which sellers are ready to offer a good or service and the price they actually obtain.