Say that the average worker in Canada has a productivity level of $30 per hour while the

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Say that the average worker in Canada has a productivity level of $30 per hour while the average worker in the United Kingdom has a productivity level of $25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1% per year while worker productivity in the UK grows 3% per year. After five years, who will have the higher productivity level, and by how much?

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Principles Of Economics

ISBN: 9781506699868

2nd Edition

Authors: OpenStax

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