Answer to Question #59599 in Macroeconomics for ali
Percent change in wages = 8%.
Inflation = 3%.
What is the percent change in productivity?
Inflation influences both the wage rate and the unit labor cost in the same way.
Therefore productivity change will be directly dependant on the percent change in wages.
Need a fast expert's response?Submit order
and get a quick answer at the best price
for any assignment or question with DETAILED EXPLANATIONS!