Question

If the labor force is growing at a 3 percent rate and the efficiency of a unit of labor is growing at a 2 percent rate, then the number of effective workers is growing approximately at a rate of:

Answer 1

Answer:

5%

Step-by-step explanation:

(labor force growing rate) +(efficiency of a unit of labor)  = effective workers growing rate

<=> 3%+ 2% = 5%