If the growth rate of the labor force is 2 percent and the growth rate of productivity is 1.5 percent,the growth rate of total output is
A)3.5 percent.
B)0.5 percent.
C)0.75 percent.
D)1.33 percent.

Question

Quizplus · Accepted Answer

The growth rate of total output is the sum of the growth rate of the labor force and the growth rate of productivity, which is 2 percent + 1.5 percent = 3.5 percent.

If the Growth Rate of the Labor Force Is 2