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Aggregate output Yt is produced from capital Kt and labor Lt according to the following production function: Yt = F (Kt , Lt) = AtK

Aggregate output Yt is produced from capital Kt and labor Lt according to the following production function: Yt = F (Kt , Lt) = AtK 1/3 t L 2/3 t . If capital grows at 3% per year, population by 1% per year, and technological progress measured by TFP by 1% per year, what is the annual growth rate of GDP? What is the annual growth rate of GDP per capita?

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