Calculate how much higher U.S. labor productivity will be in the year 2030

(relative to 2010) if (LO1)

a. Productivity continues to grow by 3.1 percent per year.

b. Productivity growth falls to 1.4 percent per year, its average rate during the period 1973–1995. ( Note: You do not need to know the actual values of average labor productivity in any year to solve this problem.)