Question: Calculate how much higher U.S. labor productivity will be in the year 2030 (relative to 2010) if: a. Productivity continues to growth by 3.1 percent

Calculate how much higher U.S. labor productivity will be in the year 2030 (relative to 2010) if:

a. Productivity continues to growth by 3.1 percent per year.

b. Productivitygrowthfallsto1.4percentperyear,itsaverageduringtheperiod

1973-1995 (Note: You do not need to know the actual values of average labor productivity in any year to solve this question.

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