Say that the average worker in Canada has productivity of $21 per hour while the average worker in Australia has productivity of $33 per hour (both measured in U.S. dollars). If worker productivity, over the next 7 years, grows 3% per year in Canada and 3% in Australia. At the end of the 5 years, how much more productive are Australians workers relative to Canadians, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).
Say that the average worker in Canada has productivity of $21 per hour while the average worker in Australia has productivity of $33 per hour (both measured in U.S. dollars). If worker productivity, over the next 7 years, grows 3% per year in Canada and 3% in Australia. At the end of the 5 years, how much more productive are Australians workers relative to Canadians, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).
Principles of Economics 2e
2nd Edition
ISBN:9781947172364
Author:Steven A. Greenlaw; David Shapiro
Publisher:Steven A. Greenlaw; David Shapiro
Chapter20: Economic Growth
Section: Chapter Questions
Problem 35P: Say that the average worker in the U.S. economy is eight times as productive as an average worker in...
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Say that the average worker in Canada has productivity of $21 per hour while the average worker in Australia has productivity of $33 per hour (both measured in U.S. dollars). If worker productivity, over the next 7 years, grows 3% per year in Canada and 3% in Australia. At the end of the 5 years, how much more productive are Australians workers relative to Canadians, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).
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