In his Presidential Address five years ago, Zvi Griliches (1994) called attention to the se- Vere difficulties that best current attempts to Measure the growth of labor productivity in The American economy. Because of these dif- Ficulties, it is likely that the true rate of eco- Nomic growth is substantially underestimated. The root of the problem is the difficulty in Measuring output in the service sector which Now represents two-thirds of the economy.
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