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Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016Macroeconomics 12th Edition by William Baumol,Alan Blinder
Edition 12ISBN: 978-1305033016 Exercise 4
Country A and Country B have identical population growth rates of 1 percent per annum, and everyone in each country always works 40 hours per week. Labor productivity grows at a rate of 2 percent in Country A and a rate of 2.5 percent in Country B. What are the growth rates of potential GDP in the two countries?
Explanation
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Calculation of GDP growth rates for coun...
Macroeconomics 12th Edition by William Baumol,Alan Blinder
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