Content  Standard 6: Specialization

Grade 8 Benchmarks

1. Labor productivity is output per worker.

Content Standard 15: Economic Growth

Grade 8 Benchmarks

1. Standards of living increase as the productivity of labor improves.
2. Productivity is measured by dividing output (goods and services) by the number of inputs used to produce the output. A change in productivity is a change in output relative to input.
3. Technological change results from an advance in knowledge leading to new and improved goods and services and better ways of producing them.
4. Increases in productivity can result from advances in technology or increases in physical or human capital.

Grade 12 Benchmarks

1. Economic growth is a sustained rise in a nation’s production of goods and services. Long-term growth in output results from improvements in labor productivity and increases in employment. It varies across countries because of differences in investments in human and physical capital, research and development, technological change, and from alternative institutional arrangements and incentives.
2. Historically, economic growth that raises per capita output has been a vehicle for alleviating poverty and raising standards of living.
 

• Will Robots Take Our Jobs? (Page One Economics®)
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• Economic Lowdown Video Series—The Labor Market