Say that the average worker in Canada has a productivity level of
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- Say that the average worker in Canada has productivity of $21 per hour while the average worker in Australia has productivity of $33 per hour (both measured in U.S. dollars). If worker productivity, over the next 7 years, grows 3% per year in Canada and 3% in Australia. At the end of the 5 years, how much more productive are Australians workers relative to Canadians, in percentage terms. (Do not include the % sign, round your answer to include 2 decimal places).arrow_forwardA country starts with real GDP per capita of 500, and is growing at 4.3% per year. After 70 years, real GDP per capita will be approximately...?arrow_forwardWhat is the impact of productivity growth on a nation's inflation rate or level?arrow_forward
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