Economics

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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 -

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

    2009
    Employment = 1,100 workers
    Unemployment = 50 workers

  • Economics -

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

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