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If the growth rate of labor force is 1.5 percent and the growth rate of labor productivity 1.25 percent then the potential growth rate is?
Wiki User
∙ 13y ago
The formula is :
Potential Growth rate =
Annual Growth rate of labor force - Annual decline in the work weeks + Growth rate of labor productivity.
So u need to have the annual decline in the work weeks to find the potential Growth
Regards,
Muntaha
Wiki User
∙ 13y ago
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