None Suppose labor productivity in the United States was $100,000 per worker in 2015. Calculate thevalue 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 4.5 percent per year.US labor productivity in 2035 would be $ 241.171.40 per worker.b. Productivity growth falls to 2.7 percent per year.U.S. labor productivity in 2035 would be $ 170.376.1 per worker.c. How much larger would labor productivity per worker be in 2035 with the higher growth rateas 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.$or%.

a. Productivity continues to grow by 4.5 percent per year.Initial Value (PV) = $100,000 (year…

Answered: Suppose labor productivity in the…

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 2.4P

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Only typed answer and please don't use chatgpt Suppose labor productivity is $100,000 per worker in 2015. Calculate the value of labor productivity in 2035 (20 years later): 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.
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