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Imagine that you are trying to predict the level of real per capita GDP in a certain economy in the year 2070 (say, using real
Imagine that you are trying to predict the level of real per capita GDP in a certain
economy in the year 2070 (say, using real dollars of some base year). Imagine that you
know exactly what productivity, defined as real GDP divided by the number of employed
workers, will be in that economy in that year. What other indicator/number/size/rate
about the economy do you need to know in order to make a perfect prediction? Specify
the exact definition of that indicator/number/size/rate.
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