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a. Assume that the hypothetical economy of Molpol has 10 workers in year 1, each working
2,000 hours per year (50 weeks at 40 hours per week). The total input of labor is 20,000 hours.
Productivity (average real output per hour of work) is $10 per worker. b. Suppose work hours
rise by 1 percent to 20,200 hours per year and labor productivity rises by 4 percent to $10.4. A.
Solve the first year real GDP in Molpol. B Solve the second year real GDP in Molpol. In order to
figure out the growth rate between year 1 and year 2.
In part c, round your answer to 2 decimal places.
c. Between year 1 and year 2, what will be Molpol's rate of economic growth?

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