Table 1 provides data on the Canadian economy for 1998 and 1999. Table 1 Item 1998 1999 *Aggregate hours worked (billions) 25.0 25.2 *Real GDP (billions of 1992 dollars) 840 880 a) Calculate the growth rate of real GDP in 1999. b) Calculate labor productivity in 1998. c) Calculate labor productivity in 1999. d) Calculate the growth of labor productivity in 1999.

Table 1 provides data on the Canadian economy for 1998 and 1999. Table 1 Item 1998 1999 Aggregate hours worked (billions) 25.0 25.2 Real GDP (billions of 1992 dollars) 840 880 a) Calculate the growth rate of real GDP in 1999. b) Calculate labor productivity in 1998. c) Calculate labor productivity in 1999. d) Calculate the growth of labor productivity in 1999.

Essentials of Economics (MindTap Course List)

8th Edition

ISBN:9781337091992

Author:N. Gregory Mankiw

Publisher:N. Gregory Mankiw

Chapter15: Measuring A Nation's Income

Section: Chapter Questions

Problem 7PA

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