2. [5 marks] Suppose that the U.S. labor productivity in the traded sector, a7", grows at a b percent rate per year, whereas labor productivity in the nontraded sector, of, grows at 1 percent per year. Assume that labor productivityes in Japan are constant over time. Calculate the growth rate of the real exchange rate. 3. [10 marks] Now assume that the price index in the United States is given by pus = (pus); (Pus) & Similarly, the price index in Japan is given by PJ = (py) ( Px). Calculate the dollar/yen real exchange rate e assuming the other conditions remain un- changed. 4. [10 marks] Consider the same situation in the question 3. Suppose that the U.S. labor productivity in the traded sector, ay", grows at a 6 percent rate per year, whereas labor productivity in the nontraded sector, ay, grows at 1 percent per year. Assume that labor productivities in Japan are constant over time. Calculate the growth rate of the real exchange rate