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A. Consider the following data for South Africa, Year y k h 1990 2015 31600 39500 133000 150000 2.1 2.8 Assuming that = 1/3 and
A. Consider the following data for South Africa,
Year | y | k | h |
1990 2015 | 31600 39500 | 133000 150000 | 2.1 2.8 |
Assuming that = 1/3 and using our standard per worker production function
y=Ak1/3h2/3,
calculate productivity for each of the years.
B. Calculate the compounded annual output per worker growth and productivity growth.3.
C. How important was growth in factors of production relative to productivity growth for South Africas economic growth?
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