ps 7 Use the table to answer the guestions that follow. 2006 2007 Populatiof 800,000 824,000 Number of Hours Worked 2,000,000,000 2,000,000,000 Real GDP $16,000,000,000 $16,315,200,000 Real GDP per Person S | 3 Labor Productivity 3 3 The growth rate of the population between 2006 and 2007 is w . Calculate real GDP per person in 2006 and 2007 and enter the values in the previous table. The growth rate of real GDP per person between 2006 and 2007 is . Calculate labor productivity in 2006 and 2007, and enter the values in the previous table. (Note: Enter your answer to the nearest penny.) Hint:-Labor productivity is equal to real GDP divided by the number of hours worked, so the unit of measurement is dollars per hour. Based on your calculations, the growth rate of labor productivity between 2006 and 2007 (s . Assuming that real GDP per person is a good measure of living standards, between 2006 and 2007, living standards the following reasons? Or The number of hours worked remained the same. ) Productivity growth outpaced population growth. O Population growth outpaced productivity growth