You work for the Treasury Department, GDP is $20T right now, and 100M workers make $8T in wages. You forecast that automation will Increase Gross Domestic Product (our country's total output) by 11% over the next 10 years. Simultaneously, the US economy will lose 10M jobs (for simplicity, assume all jobs pay equally). By what percentage would labor productivity change? 

Answer rating: 100% (QA)

To calculate the percentage change in labor productivity we need to compare the current level of lab... View the full answer