5. (10 points) Consider USA and Argentina with the following data for 2015 (in US$), Country GDP ($bill.) Capital ($bill) Labor Force ($ mill. )
5. (10 points) Consider USA and Argentina with the following data for 2015 (in US$), Country GDP ($bill.) Capital ($bill) Labor Force ($ mill. ) USA 2200 7200 200 Argentina 150 400 25 (a) (5 points) The implied TFP of Argentina relative to the United States is A. 0.81 B. 0.54 C. 0.72 D. 0.76 (b) (5 points) Real wages in Argentina relative to the United States are A. 0.81 B. 0.54 C. 0.72 D. 0.76
Step by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access to Expert-Tailored Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
