If labor productivity grew at the rate

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Reference no: EM1319224

Q1. In the year 2000, average hourly compensation in the private trade sector was about $37 per hour worked (measured in the purchasing power of 1996 dollars). If labor productivity grew at the rate of 1.4% per year Illustrate what would average hourly compensation be in the year 2100 (still measured in 1996 dollars per hour worked)?

Q2. Illustrate what would Alfred Marshall likely say about the cost-push/Demand -pull distinction

Q3. Illustrate what do your forecasts imply about the relative strength of the economy over the next 2 years?

Reference no: EM1319224

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