Output Growth in the United States in the Period 1996

question 18

Essay

Output growth in the United States in the period 1996 to 2008 averaged three percent per year. Though this was an improvement on the 2.9% average annual growth of output over the preceding 20 years, an increase of one-tenth of a percentage point seems hardly to justify the popularity of the label "new economy." Comment.

---

Definitions:

Motivation Theories

Frameworks and concepts that seek to understand what drives individuals to initiate, direct, and sustain behaviors and actions to achieve personal or organizational goals.

Written Reprimand

A formal written notice to an employee indicating a violation of policies or standards and typically documenting disciplinary action.

Negative Reinforcement

A psychological concept where the likelihood of a behavior increases because an unpleasant stimulus is removed or avoided following the behavior.

Punishment

A method of correcting or disciplining an individual through the imposition of unpleasant or adverse consequences for undesired behavior.