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Actual values of average labor productivity

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How much higher U.S. labor productivity will be in the year 2035 (relative to 2015), if:

  • Productivity continues to grow by 2.6% per year.
  • Productivity growth falls to 2% per year, its average rate during the period 1970-2009. (Note: You do not need to know the actual values of average labor productivity in any year to solve this problem)

Reference no: EM132606397

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