econ203 homework

Question 1 [6 points] Suppose you have the following information about an economy: Average annual rates of growth from 2004 to 2014: Potential GDP 7.61% Labour Force 3.6% Capital Stock 2.1% Share of labour income in national income: 2/3 sing growth accounting, find the contributions to the annual growth in potential GDP that came from: Note: Make sure your answers are in percentage form and rounded to two decimal places. ) Growth in labour force? Contribution from growth in labour force = 0 % ) Growth in capital stock? Contribution from growth in capital stock = 0 % c) Improved productivity as measured by the Solow residual? Contribution from improved productivity = 0 %