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For each of the following scenarios, calculate the percentage change in real GDP per capita: Average hours are constant, while labor productivity and the employment-population
For each of the following scenarios, calculate the percentage change in real GDP per capita:
Average hours are constant, while labor productivity and the employment-population ratio (EPR)
each rise by 4%.
Average hours and EPR are constant and labor productivity rises by 4%.
Average hours are constant, while EPR decreases by 4% and labor productivity rises by 4%.
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