The table provides some data for an economy in 2018 and 2019. Calculate labor productivity in 2018 and 2019. What is the growth rate of labor productivity in 2019? >>> Answer to 2 decimal places. Item Aggregate hours (billions) Real GDP (billions of 2012 dollars) 2018 2019 120.0 122.9 3,000 3,180

The table provides some data for an economy in 2018 and 2019. Calculate labor productivity in 2018 and 2019. What is the growth rate of labor productivity in 2019? >>> Answer to 2 decimal places. Item Aggregate hours (billions) Real GDP (billions of 2012 dollars) 2018 2019 120.0 122.9 3,000 3,180

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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Question

The table provides some data for an economy in 2018 and 2019.
Calculate labor productivity in 2018 and 2019.
What is the growth rate of labor productivity in 2019?
>>> Answer to 2 decimal places.
Item
Aggregate hours (billions)
Real GDP (billions of 2012 dollars)
2018 2019
120.0 122.9
3,000 3,180

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