What is the growth rate for an economy in which TFP grows at a rate of 3

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What is the growth rate for an economy in which TFP grows at a rate of 3 percent per year, the size of the labor force is unchanged, the capital stock grows at a rate of 2 percent per year, and labor and capital each account for 50 percent of output?

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Fundamentals Of Economics

ISBN: 9780618992676

4th Edition

Authors: William Boyes , Michael Melvin

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