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Say that the average worker in Canada has a productivity level of

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- Say that the average worker in the U.S. economy is eight times as productive as an average worker in Mexico. If the productivity of U.S. workers grows at 2 for 25 years and the productivity of Mexicos workers grows at 6 for 25 years, which country will have higher worker productivity at that point?
*arrow_forward*Say that the average worker in Argentina has productivity of $10 per hour while the average worker in Brazil has productivity of $12 per hour (both measured in U.S. dollars). If worker productivity, over the next 8 years, grows 1.5% per year in Brazil and 5% in Argentina. At the end of the 8 years, how much more productive are argentinian workers relative to brazillian, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).*arrow_forward*Real GDP per capita in the country of Arcadia grew from about $4.545 in 1900 to about $40.064 in 2008, which represents an annual growth rate of 2.04 percent IH Arcadia continues to grow at this rate, calculate the number of years when its real GDP per capita will double years. (Enter your response as an integer)*arrow_forward* - Downtown has been experiencing an explosive population growth of 10% per year. At the end of 2017 the population was 16,000. If the growth rate continues unabated, how many years will it take the population to triple?
*arrow_forward*Assuming UAE’s 2021 economic growth is projected to be 3.5%. How long will it take to double the size of that economy? Show your calculations.*arrow_forward*Small differences in growth rates in the size of the economy, over several decades, will result in big differences in the size of the economy. Pretend we start in 1950 and the U.S. growth in real GDP has been around 3.15%. This has resulted in real GDP growing 8 times over this 70-year period (1950 to 2020). If real GDP growth had been 4.0%, real GDP would be times larger. a. 8 (about the same growth as with 3.15% growth) b. 10 С. 14 d. 16*arrow_forward* - In this section we looked at the growth rate formula for measuring the average annual growth rate of a variable, such as the CPI, the GDP deflator, or real GDP. It can be used for any two years, which may be years apart. For example, in the worksheet you computed the average annual rate of inflation from 1920 to 2020. If you use the growth rate formula for a variable one year apart, do you get the same value as you do with the percentage change formula? Hint: Say that real GDP grew from $20.0 trillion one year to $20.4 trillion the next year. Do both the percentage change and the growth rate formulas give you the same answer? yes no
*arrow_forward*Economist believe there is a strong correlation between productivity and the standard ofliving? [HINT: In your answer be sure to explain what productivity and standard of living mean.Make a list of things that determine labour productivity and explain how each of them havean impact on the standard of living.]*arrow_forward*Say that the average worker in Canada has productivity of $21 per hour while the average worker in Australia has productivity of $33 per hour (both measured in U.S. dollars). If worker productivity, over the next 7 years, grows 3% per year in Canada and 3% in Australia. At the end of the 5 years, how much more productive are Australians workers relative to Canadians, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).*arrow_forward* - Suppose Nation B has 8,623 labor hours each year to produce burgers and fries. Burgers take 13 hours to produce each, and fries take 7 hours to produce each. Suppose Nation B also sees a sudden surge in working-age immigrants, leading to 26% higher labor hours each year. What is the maximum number of fries is Nation B able to produce in a year after this surge of immigration? Round your answer to one place after the decimal point (0.1).
*arrow_forward*A country starts with real GDP per capita of 500, and is growing at 4.3% per year. After 70 years, real GDP per capita will be approximately...?*arrow_forward*What is the impact of productivity growth on a nation's inflation rate or level?*arrow_forward*

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