PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
7th Edition
ISBN: 9781260110920
Author: Frank
Publisher: MCG
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Question
Chapter 7, Problem 2P
(a)
To determine
Determine the value of labor productivity after 20 years.
(b)
To determine
Determine the value of labor productivity after 20 years if the growth rate declines.
(c)
To determine
Compare the labor productivity for different growth rates.
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47,263
110,384
Instructions: Enter your response as whole numbers for dollar values and rounded to one decimal place for percentages.
Real GDP per person in 2016: $
Real GDP per person in 2072: $
Net change in real GDP per person between 2016 and 2072: $
Year
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2016
Share of population employed
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46.8%
which is an increase of
% from 2016.
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Chapter 7 Solutions
PRINCIPLES OF MACROECONOMICS(LOOSELEAF)
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