For each of the following scenarios, calculate the percentage change in real GDP per capita, assuming there

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For each of the following scenarios, calculate the percentage change in real GDP per capita, assuming there is no change in technology:
a. Average hours are constant; EPR, productivity, and population each increase by 2%.

b. Average hours and EPR are constant; productivity increases by 2%.
c. Average hours, productivity, and population each increase by 2%; EPR is constant.
d. Average hours and EPR each decrease by 2%; productivity increases by 2%.

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Macroeconomics Principles and Applications

ISBN: 978-1111822354

6th edition

Authors: Robert E. Hall, Marc Lieberman

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