How is the productivity of the United States compared to other countries in the world? Are...

How is the productivity of the United States compared to other countries in the world? Are we still a leader in productivity?

Solutions

Expert Solution

1) Since the end of World War 2, the United States has had the strongest economy in the world. America controls the top spot in the ranking of Gross Domestic Product (GDP) or the sum value of goods and services in a country. In second place, you'll find China, then japan, Germany and India. Rounding out the top 10 are the United kingdom, France, Itlay, Brazil and Canada. Russia and South Korea just miss out on a ranking in the top 10. The United States ranks fifth, according to the OECD, contributing $68.30 to the country's GDP per hour worked, countering claims that Americans are the most productive workers in the world

For several years, there have been plenty of reports that contend that China has surpassed, or is poised to pass, the United States for the top stop. From 2003 through 2018, the United States held the top spot in world rankings, and London finds that we'll probably keep the distinction of having the strongest economy in 2023 and 2028. But by 2033, china will likely overtake the United States as having thr biggest market in the world.

Rahul Sunny answered 1 year ago

Next > < Previous

Related Solutions

how many banks does the United States have compared to other countries? That is, many more...

how many banks does the United States have compared to other countries? That is, many more or far fewer? Briefly, what factors explain the great disparity?

The saving rate in the United States is low compared to many of the countries with...

The saving rate in the United States is low compared to many of the countries with which the United States currently trades. If the United States was a closed economy, what would be the consequences of that low savings rate? The United States is not a closed economy however, but rather than an open economy. How does that change the answer to the closed economy scenario? Be thorough in your explanation.

Despite being a world “super-power,” the United States ranks poorly – compared to other industrialized nations...

Despite being a world “super-power,” the United States ranks poorly – compared to other industrialized nations – on multiple health indicators. Which statement best explains why this is true. a. Over 25 million U.S. residents do not have health insurance b. Technological advances have created so many environmental carcinogens (cancer-causing agents) that cancer has become epidemic. c. The U.S. education system has failed – the result is poor public health. d. Investments in medical treatment rather than prevention and escalating...

what third world countries are geographically closest to the united states

how does the productivity of the U.S realte to other countries? why is our productivity at...

how does the productivity of the U.S realte to other countries? why is our productivity at the persistent levels compared to other countries? how does the u.s productivity affect you personally?

How do competing interests differ between the United States and that of other countries with regard...

How do competing interests differ between the United States and that of other countries with regard to energy? How does the United States compare to other countries with regards to its views on energy production (including the use of biomass) and energy consumption? How do the actions of other countries impact the US energy sector?

Suppose there are two countries in the world: Canada and the United States. Power plants in...

Suppose there are two countries in the world: Canada and the United States. Power plants in the United States mid-west burning high-sulphur coal contributes to the acidification of lakes in Canada. Explain by using a diagram, if the two countries do nothing to reduce pollution, then there is a loss in economic efficiency.

How do corporate tax rates in the United States compare to those of other countries around...

How do corporate tax rates in the United States compare to those of other countries around the world? Rates for both corporations and individuals were changed in 2017 after President Trump signed the Tax Cuts and Jobs Act. What was the impact of these changes on U.S. corporations? Who has benefited from these changes? What are the potential impacts to corporate taxation as a result of the upcoming 2020 Presidential election? What would you recommend regarding corporate income tax rates?

The Fiscal situation in the United States and in other countries From the FRED economic...

The Fiscal situation in the United States and in other countries From the FRED economic database at the Federal reserve bank of St. Louis, you can retrieve two series: General Government Gross Debt of the United States (GGGDTAUSA188N) and a measure of the primary deficit of all governments in the United States (USAGGXONLBGDP). These are measures that incoroporate all levels of government. This data are constructed by the International Monetary Fund (IMF). Using data from the IMF or other...

The United States has a low trade level compared to a country like Japan. If countries...

The United States has a low trade level compared to a country like Japan. If countries could not trade, what would happen to the living standards in those countries with low trade levels, like the United States, as well as in countries with high trade levels such as Japan? Cite at least one current example in your discussion.

Subjects