Question
Villareal's nominal GDP increased from $189 billion to $280 billion last year. During the year, its economy experienced inflation, with its price Index increasing
Villareal's nominal GDP increased from $189 billion to $280 billion last year. During the year, its economy experienced inflation, with its price Index increasing from 105 to 112, while the number of persons employed increased from 20 million to 25 million. By what percentage did its labour productivity increase during the year? Labour productivity increased by D %. Round your answer to 2 decimal places.
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Essentials of Economics
Authors: Bradley Schiller, Karen Gebhardt
10th edition
125923570X, 978-1259235702
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