Last year, capital per hour of labor grew 6 percent. Increases in technology and human capital brought about a 3 percent increase in labor productivity. Using the one- third rule, what was the total increase in labor productivity last year?

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The Answer of Last year, capital per hour of labor grew 6 percent. Increases in technology and human capital brought about a 3 percent increase in labor productivity. Using the one- third rule, what was the total increase in labor productivity last year?

Last Year, Capital Per Hour of Labor Grew 6 Percent