Between 2000 and 2007, productivity increased at almost twice the rate of real wages.
"As recently as the second quarter of 2000, the year-over-year growth rate of real G.D.P. in America was 6.1percentt," he said.
They found that the growth rate of real, or inflation-adjusted, earnings is relatively constant when measured over several-year periods.
Chart 2 shows, for each quarter since the beginning of 2000, the average growth rate of real G.D.P. over the previous five years.
But the professors say nominal earnings historically have grown faster when inflation is rising, keeping the growth rate of real earnings more or less constant.
"Investors are desperate to find a place to put their money that offers an above-average rate of real economic growth," he said.
Players are told the growth rate of real GDP, the inflation rate, the growth in the money supply and the level of joblessness.
Obviously, in reality we would expect both the rate of growth and the rate of real exchange-rate appreciation to slow as China catches up with America.
The president said working people can see the beneficial results of his economic program in the rising rate of real wages and the record number of people now employed.
Boosted by its comparatively rapid population growth (which was sustained by a tide of international migration), the U.S. growth rate of real GDP between 1870 and 1913 outstripped all other industrializing countries.
On-site investigation shows that the relationship between total cooling consumption and total water flow rate of real systems is different from that of single coil units mainly as a result of the interaction of the terminals.
