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(15) Consider the neoclassical growth model. Over the past year, output grew 5%, capital grew 4%, and labor grew 6%. If capital contribution to economic
(15) Consider the neoclassical growth model. Over the past year, output grew 5%, capital grew 4%, and labor grew 6%. If capital contribution to economic growth is 1.6%, how much did total factor productivity grow? (A) -1% (B) -0.2% (C) 0.2% (D) 1%
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