Assume that total output is determined by the formula

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Assume that total output is determined by the formula: number of workers × productivity = total output (output per worker) If an economy's productivity increases by 5 percent but the number of workers declines by 3 percent a year, how will the output change per year? (Round to hundredth percent)

Reference no: EM13378165

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Assume that total output is determined by the formula

Reference no: EM13378165

Reference no: EM13378165

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