Principles of Economics 2e
2nd Edition
ISBN: 9781947172364
Author: Steven A. Greenlaw; David Shapiro
Publisher: OpenStax
Textbook Question
Chapter 20, Problem 34P

Say that the average worker in Canada has a productivity level of \$ 3 0 per hour while the average worker in the United Kingdom has a productivity level of \$ 25 per hour (both measured in U.S. dollars). Over the next five years, say that worker productivity in Canada grows at 1 % per year while worker productivity in the UK grows 3 % per year. After five years, whiz) will have the higher productivity level, and by how much?

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