9. According to a growth accounting exercise, labour in a country has contributed 1.5 percentage points to
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9. According to a growth accounting exercise, labour in a country has contributed 1.5 percentage points to an economic growth rate of 4 per cent—in other words 37.5 per cent (= 1.5/4) of the increase in output can be attributed to labour. Does this mean that labour will receive 37.5 per cent of the increased output as payment? Explain. LO 14.5 HARD
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