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Suppose labor productivity in the United States was $100,000 per worker in 2015, Calculate the value of labor productivity in 2035 (20 years later) if:
Suppose labor productivity in the United States was $100,000 per worker in 2015, Calculate the value of labor productivity in 2035 (20 years later) if: Instructions: Enter your responses rounded to the nearest penny (two decimal places). a. Productivity continues to grow by 3.1 percent per year. U.S labor productivity in 2035 would be $ 184150.67 @ per worker. b. Productivity growth falls to 1.4 percent per year (the average productivity growth between 1970 and 2009). U.S. labor productivity in 2035 would be $ 132056.29 @ per worker. c. How much larger would labor productivity per worker be in 2035 with the higher growth rate as compared to the lower growth rate? Instructions: Enter your answer response rounded to the nearest penny (two decimal places) and percent value rounded to the nearest whole number. $ 52094.38 or 28 %
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