ECON 313: HW 1 1. In a simple scenario with only two factors of production, suppose that capital's share of income is .4 and labor's share is .6 and that annual growth rates of capital and labor are 6 and 2 percent, respectively. Assume there is no technical change. a. At what rate does output grow? b. Now suppose technology grows at a rate of 2 percent. At what rate does output grow