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2. The average growth rate of real GDP from 1950 to 1992 was 3.2%, the capital grew at rate 2.6%, whereas Civilian employment at rate
2. The average growth rate of real GDP from 1950 to 1992 was 3.2%, the capital grew at rate 2.6%, whereas Civilian employment at rate of 1.4%. a) AssumingthattheU.S.aggregateproductionfunctionis='.)'.*,estimatethegrowthrate of productivity, A. b) Which of the exogenous variables had the largest relative contribution to growth over that period? (Hint: the relative contribution of capital is (0.3*2.6)/3.2 = 24.4%.) c) Using the same production function above, fill out the following table. d) Which variable was responsible for growth slowdown, starting in 70s
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