TB MC Qu$.01-49$ Calculate the productivity...

Calculate the productivity improvement from the following example.

Year $1$ Year $2$ Annual Inflation

Output $($sales$)$ $ million $ $69\mathrm{.}4$ $ $76\mathrm{.}83\%$

Labor $($payroll$)$ $ million $ $31\mathrm{.}4$ $ $33\mathrm{.}02\%$

Multiple Choice

$3\mathrm{.}32\%$

$5\mathrm{.}12\%$

$5\mathrm{.}20\%$

$4\mathrm{.}22\%$