EBK ECON: MACRO4
4th Edition
ISBN: 9781305562097
Author: MCEACHERN
Publisher: CENGAGE LEARNING - CONSIGNMENT
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Question
Chapter 8, Problem 2.5PA
To determine
− The production per hour after 100 years from the labor productivity growth rates.
Concept introduction
Labor productivity - It refers to the efficiency of labor in producing goods and services. It is calculated as the number of goods/services produced by a unit of labor in a day or specified period of time. The labor productivity equation is labor output/ labor input.
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EBK ECON: MACRO4
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