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Posted by on Monday, January 16, 2012 at 12:20am.

In 2008 output for the country of OZ was 12,000 tons of potatoes and the total labor force 1,100 workers. In 2009 output for the country of OZ was 14,300 tons of potatoes and the total labor force 1,150 workers.

b. The growth rate of average labor productivity between 2008 and 2009.
Is the answer 13.932% increase?

  • Economics - , Monday, January 16, 2012 at 12:25am

    Also,
    2008:
    Employment = 1,000 workers
    Unemployment = 100 workers

    2009
    Employment = 1,100 workers
    Unemployment = 50 workers

  • Economics - , Monday, January 16, 2012 at 12:30am

    Upon recalculation I believe my answer should be 8.33% instead of 13.93%.

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