13. What is the growth rate for an economy in which TFP is constant, labor grows at...
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13. What is the growth rate for an economy in which TFP is constant, labor grows at a rate of 1 percent per year, capital grows at a rate of 2 percent per year, labor’s share of output equals 60 percent, and capital’s share equals 40 percent?
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Related Book For
Fundamentals Of Economics
ISBN: 9781133956105,9781285531847
6th Edition
Authors: William Boyes, Michael Melvin
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