ANSWERS TO END-OF-CHAPTER PROBLEMS
1. a. b. c. d. True. True. True. Uncertain. It is true that the growth of output per worker increased in the mid-1990s, but economists disagree about the degree to which this increase in growth will persist. The growth of output per worker fluctuates a great deal from year to year, which makes it difficult to draw inferences from the data. True. False. The European “unemployment miracle” refers to the low rate of unemployment in Europe in the 1960s. False. The slump was triggered by the collapse of the Japanese stock market. False. 1960-2000 US EU Japan 3.2% 3.1% 4.7% 1994-2000 3.9% 2.3% 1.4% 2001-2004 2.45% 2.3% 2.3%
e. f. g. h…(생략)
. 2. a.
Growth rates in all three regions are lower in the most recent period than over the period 1960-2004. However, compared to the period 1994-2000, U.S. growth is lower in the most recent period, Japanese growth is higher, and European growth is unchanged. b. 3. a. b. Answers will vary. Low