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QUESTION
In the year 2000, average hourly compensation in the private business sector was about $37 per hour worked (measured in the purchasing power of 1996...
In the year 2000, average hourly compensation in the private business sector was about $37 per hour worked (measured in the purchasing power of 1996 dollars). If labor productivity grew at the rate of 1.4% per year, what would average hourly compensation be in the year 2100 (still measured in 1996 dollars per hour worked)?
