The data in Table 1 shows the GDP per hour worked in five countries. This is a

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Question:

The data in Table 1 shows the GDP per hour worked in five countries. This is a measure of labour productivity.

Assume that in all the countries, the only factor of production that matters is labour employed. All other factors are held consistent. Drawing on the representative agent theory and the classical view of the economy – price flexibility and competitive markets, answer the following questions with reference to the data.

Year	2011	2012	2013	2014	2015	2016	2017	2018	2019	2020
France	96.6	96.9	98.2	99.2	100.0	100.3	102.4	102.0	103.7	103.2
Germany	97.4	98.0	98.5	99.5	100.0	101.4	103.2	103.4	104.2	105.2
South Africa	90.0	91.0	91.0	91.0	100.0	88.4	88.4	88.1	87.8	94.3
United Kingdom	98.1	97.5	98.0	98.0	100.0	99.7	101.2	101.6	102.2	105.4
United States	98.3	98.7	99.1	99.4	100.0	100.3	101.3	102.3	103.6	106.3