Question
Say that the average worker in Mexico has productivity of $19 per hour while the average worker in Spain has productivity of $21 per hour
Say that the average worker in Mexico has productivity of $19 per hour while the average worker in Spain has productivity of $21 per hour (both measured in U.S. dollars). Over the next 9 years, say that worker productivity in Mexico grows at 9% per year while worker productivity in Spain grows at 1% per year. How much higher will the productivity level be in Mexico after 9 years? $_____ per hour Note: round your answer to the nearest hundredth (two decimal places). For partial credit, feel free to show your work as a comment on your exam submission.
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