1. The table below provides data on output per capita (y) and capital per capita to the power of 1/3 ( 1/3) in 2010 for 11 countries. Use the production function y = Ak1/3 to back up the implied value for total factor productivity A for each of the 11 countries in the table. Are A and y positively correlated or negatively correlated? TABLE 4.4 Measuring TFP Per capita Implied Country GDP (y) K 1/3 TFP (A ) United States 1.000 1.000 Switzerland 1.151 1.094 U.K. 0.714 0.885 Japan 0.734 0.976 Italy 0.680 0.930 Spain 0.640 0.901 China 0.279 0.651 Brazil 0.252 0.587 South Africa 0.214 0.559 India 0.117 0.433 Burundi 0.015 0.173 Calculations are based on the equation y = Ak 1/3. Implied productivity A is calculated from data on y and k for the year 2010, so that this equation holds exactly as A = y/k 1/3. Copyright @ 2021 W.W. Norton & Company