Manufacturers to Spend $26.2 Billion in 2020

February 3, 2020

Manufacturers to spend $26.2 billion on ‘upskilling’ in 2020.

Questions

1. According to the National Association of Manufacturers’ Outlook Survey, what has been the number one challenge for manufacturers during the past nine quarters?
2. What is the effect of an increase in labor productivity on employment and the real wage rate?
3. How does an increase in labor productivity influence the production function?
4. How does an increase in labor productivity influence potential GDP and potential GDP per hour of labor?
5. Draw a graph to illustrate your answer to #5.