ECO 220 – With no change in labor productivity

Question With no change in labor productivity, what would happen to the real wage rate and potential GDP if the population increased? 2. How will an increase in physical capital affect labor productivity, labor demand, and potential GDP? 3. List and explain the factors that can increase labor productivity. 4. Begin with the formula showing … Continue reading “ECO 220 – With no change in labor productivity”

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