The percentage growth in labor productivity.

Question

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Answer 1

Question

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

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Students have asked these similar questions

Suppose that real GDP per capita of the United States is $32,000 and its growth rate is 2% per year and that real GDP per capita of China is $4,000, and its annual growth rate is 7%. How long will it take real GDP per capita of the United States to double?

In 2000 GDP per capita was 18.3, capital/output was 3.3, human capital was 4.8. In 2010 GDP per capita was 23.3, capital/output 5.7, human capital was 4.5. In both years the production function is Cobb-Douglas with a value for α of 0.4. What was the ratio of GDP per capita in 2010 to 2000 due *just* to the change in the capital/output ratio? Use 2 decimal places.

Answer 2

Question

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

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Answer 3

Question

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

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Answer 4

Question

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

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Answer 5

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

Answer 6

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.

Answer 7

Chapter 7, Problem 1TY

To determine

To analyze:The percentage growth in labor productivity.

Answer 8

Expert Solution & Answer

Explanation of Solution

Percentage change in labor productivity can be calculated by dividing the change in productivity by the old output.

For country A, it is

% change in productivity = 48-4040×100= 20%

Similarly, it can be calculated for other countries:

Output per Hour			Percentage Change In productivity
	2004	2014
Country A	40	48	20
Country B	25	35	40
Country C	2	3	50
Country D	0.5	0.6	20

Country D had lowest productivity in year 2004, which was 0.5 units/hr. But the percentage growth of labor productivity is highest in country C, which is 50%. Hence, it is not true that productivity growth was highest where the initial level of productivity was the lowest.