Suppose labor productivity is $100,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later):   Instructions: Enter your responses rounded to the closest $100.   a. Productivity continues to grow by 2.6 percent per year.   U.S labor productivity in 2035 would be $  per worker.   b. Productivity falls to 2.0 percent per year (the average productivity growth between 1970 and 2009).   U.S. labor productivity in 2035 would be $ per worker.

Principles of Economics 2e
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ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
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Problem 34P: Say that the average worker in Canada has a productivity level of 30 per hour while the average...
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Suppose labor productivity is $100,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later):

 

Instructions: Enter your responses rounded to the closest $100.

 

a. Productivity continues to grow by 2.6 percent per year.

 

U.S labor productivity in 2035 would be $  per worker.

 

b. Productivity falls to 2.0 percent per year (the average productivity growth between 1970 and 2009).

 

U.S. labor productivity in 2035 would be $ per worker.

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