Technology And Technology Essay

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THE IMPACT OF TECHNOLOGY ON PRODUCTIVITY IN THE UNITED STATES OVER THE PAST 10 YEARS
INTRODUCTION
The success of a country is determined by its economic growth and this is measured by gross national product (GNP) or gross domestic product (GDP). GDP is the aggregate output of a country by compiling the values of goods and services produced within a period (quarterly or annually). In most countries, production attributes the largest portion of the GDP values. Increase in production is measured by productivity. Productivity measures the effectiveness and efficiency of a given input to generate the outputs of its products or services. Productivity is a closely monitored indicator on the prospects of a given economy. With the same amount of labour hours contributed by U.S. workers, U.S. businesses were able to produce 42 percent or $3.5 trillion more output in 2013 than they did in 1998. One must be wondering how did the same amount of labour hours were able to churn out so much output. One thing for sure, the additional output must be contributed by the increase in productivity by investing in faster machinery and more reliable equipment, hiring of skilled workers and reduction of waste (Sprague, 2014).
The rise of technology contributed to the increase in productivity, and has a permanent effect on improving the standard of living and bring prosperity to the country. The purpose of this paper is to research the impact of technology on productivity in the United States over

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