Potential GDP in the United States and European Union
{"Image DocumentName": "Potential GDP in the United States and European Union", "Image ImageDescription": "In the United States in 2008, the real wage rate was  34 an hour and in Europe, it was  29 an hour\u2014a 17 percent gap. Part (b) of the figure shows this large difference. How can the average American produce 38 percent more than the average European but earn in wages only 17 percent more?", "Image XResolution": "37", "Image YResolution": "37", "Image ResolutionUnit": "Pixels/Centimeter", "Image Software": "SlidePlayer", "Image YCbCrPositioning": "Centered"}