Hi
Here, the labour productivity would be measured as Output per
Worker.
Hence, in 2017- Output (total) = 100 + 200 = 300, and employment
(total) = 1000 + 500 = 1500.
Hence, Output per worker for 2017 =300/1500 = 0.2
Now, in 2018- Output (total) = 101 + 201 = 302, and employment
(total) = 1100 + 400= 1500.
Hence, Output per worker for 2018 =302/1500 = 0.201
Hence, labour productivity has increased by 0.001 = 0.1%
I need help with question D, basically interpreting the question and it’s answer. What units are...
Assume that in the Economy only two goods are produced: Computers and TV’s. Macroeconomic information for this economy is given in Table. a. How much is Nominal GDP in 2017 and 2018? What is the percentage change? b. How much is Real GDP in 2017 and 2018, by considering 2017 as the base year? What is the percentage change? c. How much is the GDP deflator in the two years? By what percentage does the price level change from the...
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