Question
Suppose labor productivity is $110,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later) if: Instructions: Enter your responses
Suppose labor productivity is $110,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later) if:
Instructions: Enter your responses rounded to the closest $100.
a. Productivity continues to grow by 2.6 percent per year. U.S labor productivity in 2035 would be $_ per worker.
b. Productivity falls to 2.0 percent per year (the average productivity growth between 1970 and 2009). U.S. labor productivity in 2035 would be $_ per worker.
c. How much lager would labor productivity per worker be in 2035 with the higher growth rate compared to the lower growth rate.
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