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1. As we saw in problem set 2, the Bureau of Labor Statistics reported that the United States labor force labor force was 162,294,000 persons

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1. As we saw in problem set 2, the Bureau of Labor Statistics reported that the United States labor force labor force was 162,294,000 persons in December of 2021. Assuming that 2.0% of the labor force is engaged in R&D at an efficiency rate of 1/200 per million persons per year: (a) If R&D is the only source of total-factor productivity growth what is the growth rate of labor efficiency in the United States? (b) If the growth rate of total factor productivity is 0.8% per year, what is the value of a in the Cobb-Douglas production function

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