Question: Use the figure below to answer the following question Real wage rate (2002 dollars per hour) 25 20 15 10 5 50 100 150 200

 Use the figure below to answer the following question Real wage

Use the figure below to answer the following question Real wage rate (2002 dollars per hour) 25 20 15 10 5 50 100 150 200 250 300 Labour (billions of hours per year) Figure 22. 3 . 2 (Refer to Figure 22. 3. 2 . If the real wage was 20 dollars per hour , what would happe 5) Refer to Figure 22. 3. 2 a)If labour productivity increases due to the purchase labour and h how would the production function change? b)If labour productivity increases, what would be the i hours p per year? What would be the impact on real GDP

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