The KLEMS measures for this concept takes into account intermediate activity. A "paradox" about this concept, in which measures for it had not risen for a two-decade period, was described by Erik Brynjolfsson. Modern measures for it were inspired by a paper written by Dale Jorgenson and Zvi Griliches. One form of this concept is calculated via growth accounting exercises as the (*) residual from output not attributable to labor or capital. Technological shocks are assumed to affect this concept, which may be measured in its "total factor" form. For 10 points, name this
The KLEMS measures for this concept takes into account intermediate activity. A "paradox" about this concept, in which measures for it had not risen for a two-decade period, was described by Erik Brynjolfsson. Modern measures for it were inspired by a paper written by Dale Jorgenson and Zvi Griliches. One form of this concept is calculated via growth accounting exercises as the (*) residual from output not attributable to labor or capital. Technological shocks are assumed to affect this concept, which may be measured in its "total factor" form. For 10 points, name this economic concept which is often measured in "dollars per hour worked", which describes how many units of input are needed to make a given output.
The KLEMS measures for this concept takes into account intermediate activity.