8. (LO 1, 4) Villareals nominal GDP increased from $168 billion to $220 billion last year. During...

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8. (LO 1, 4) Villareal’s nominal GDP increased from $168 billion to $220 billion last year. During the year, its economy experienced inflation, with its price index increasing from 105 to 110, while the number of persons employed increased from 20 million to 23.5 million. By what percentage did its labour productivity increase during the year? %

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Principles Of Macroeconomics

ISBN: 9780226818399

8th Edition

Authors: Sayre, J.E.; Morris, A.J.

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