In January of 1945 there were 42 million \"payrolls\" in the U.S. (i.e. this man

Question

In January of 1945 there were 42 million "payrolls" in the U.S. (i.e. this many were employed -- they were on someone's payroll). Seventy years later, in January of 2015, there were 142 million payrolls. The change is pretty impressive -- in spite of many examples of labor saving technology (airplanes have 2 pilots instead of 4, farm tractors are vastly more capable and some are robotic, computers have enabled bigger classes, and car companies need many fewer workers to produce more cars), employment has increased.

If you wanted to compute the average annual growth in the labor force over these 70 years, would you use (final value / initial value) (1/years between) -1 for your calculation?

A yes

B No

Explanation / Answer

A yes

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