"Expenditure-side real GDP at chained PPPs (in mil. 2017US$)" denoted by rgdpe. "Number of persons engaged (in millions)" denoted by emp. "Average annual hours worked by persons engaged" denoted by avh. "Share of gross capital formation at current PPPs" denoted by csh_i. "Average depreciation rate of the capital stock" denoted by delta. "Share of labour compensation in GDP at current national prices" denoted by labsh. "TFP level at current PPPs (USA=1)" denoted by ctfp. country country currenc year Trgdpe rgdpo pop emp avh hc ccon cda cgdpe cgdpo cn ck ctfp cwtfp rgdpna rconna rdana rnna rkna rtfpna rwtfpna labsh CAN Canada CAN CAN Canada Canada CAN CAN CAN Canada Canada Canada CAN Canada Canadian D Canadian D Canadian D Canadian D Canadian D Canadian D Canadian D 2009 1408601 1457231 2010 1483012 1558716 2011 2012 2013 34 17 1,711 34 17 1,714 4 1552404 1649477 35 18 1,713 1132939 1523106 1493890 1520259 4 1168031 1588294 1569459 1608678 4 1088254 1438645 1417426 1437729 5555046 5941241 0 1 1 1505406 1152122 1502973 6451458 1 1 1 1 0 1 1 1551922 1189194 1580935 6645610 1 1 1 1 6358923 0 1 1 1600747 1213120 1634366 6853359 1 1 1 1 1575740 1661054 35 18 1,721 4 1647212 1723023 35 18 1,715 4 2014 2015 1685111 1780582 36 18 1,710 4 1184319 1624284 1593280 1206373 1233409 1609345 6781151 0 1 1 1628935 1232123 1667820 7076979 1 1 1 1 1678153 1652165 1662328 7179644 0 1 1 1666875 1252914 1703861 7300073 1 1 1 1 1704666 1688900 1723924 7604575 0 1 1 1714715 1278353 1733362 7529015 1 1 1 1 1659692 1691291 36 18 1,711 4 CAN Canada Canadian D CAN Canada Canadian D 2016 1683514 1711195 2017 36 19 1,705 4 CAN Canada Canadian D 1771273 1796297 2018 1815591 1833635 37 19 1,694 37 19 1,707 4 4 1267453 1696328 1654818 1306512 1713083 1674676 1701895 1374531 1682115 8006907 0 1 1 1726018 1304756 1731489 7728442 1 1 1 1 8184792 0 1 1 1743302 1331079 1739021 7902095 1 1 1 1 1811571 1771273 1796297 8087274 0 1 1 1796297 1374531 1811571 8087274 1 1 1 1 1412702 1849784 1813163 1834876 8248541 0 1 1 1839938 1410848 1852541 8276921 1 1 1 1 CAN Canada Canadian D USA USA USA USA USA USA USA USA USA USA United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar United Stat US Dollar 2019 1846581 1866215 2009 16174102 16195003 2010 16583432 16651722 37 19 1,689 4 306 141 1,729 1438747 1876047 1841899 1862070 8427519 4 13596539 16855508 16405376 16380414 60486828 0 1 1 1874187 1435375 1881211 8463303 1 1 1 1 1 1 1 16381405 13859020 16839640 60486876 1 1 1 1 309 141 1,735 2011 16826584 16943864 2012 17276374 17382956 2013 17688954 17764046 2014 18201652 18244220 2015 18905122 18785358 2016 19285252 19095196 2017 19754754 19542980 2018 20369440 20155260 312 142 1,745 314 145 1,747 316 146 1,753 319 148 1,758 321 150 1,770 323 152 1,767 325 155 1,764 327 157 1,775 USA United Stat US Dollar 2019 20860506 20595844 329 158 1,765 4 13897419 17421238 16843858 16800636 61035260 4 14162612 17779990 17140938 17060996 61657100 4 14095194 18155674 17539960 17444592 62424364 4 14294676 18359676 17838098 17765868 63225060 4 14672760 18862996 18332030 18214814 64118460 4 15192050 19473828 18927364 18775850 65053528 4 15602346 19767340 19241262 19096542 65971316 4 16019792 20316308 19754754 19542980 66940280 4 16434557 20934398 20333180 20128448 68005664 4 16826236 21383552 20791364 20566034 69059488 1 1 1 16801388 14056025 17339356 61035284 1 1 1 1 1 1 1 1 1 17061950 14184411 17601042 61657132 1 17445766 14317281 17983590 62424416 1 1 1 1 1 1 1 1 1 1 1 17767130 14435775 18265598 63225104 1 1 1 1 1 1 1 18215924 14764391 18758254 64118472 1 1 1 1 1 1 1 18776158 15267839 19460168 65053556 1 1 1 1 1 1 1 1 1 19097498 15662891 19823676 65971328 1 19542980 16019792 20316310 66940280 1 1 1 1 1 1 1 1 1 1 1 20128580 16421700 20957760 68005632 1 1 1 1 1 1 1 20563592 16803152 21436590 69059464 1 1 1 1 b. Calculate the real GDP per worker in both Canada and in the United-States in 2019. Compute the ratio of the real GDP per worker in the United-States in 2019 to the real GDP per worker in Canada in 2019. (3 points) Let us consider a Solow growth model in which the aggregate production function at time t for country i E {CAN, USA} is given by: Y = A'(K) (e'L) where Y is the aggregate real GDP in country i, K is the aggregate physical capital in country i, L is the aggregate number of workers in country i, e is the average working time of a worker parameter in country i, A > 0 is the total factor productivity parameter in country i and = (0,1) is the labour share of output parameter in country i. The equilibrium law of motions of the physical capita per worker from time to time t+1 in country i can be written as: (1+n)k+1 = yy + (1 s)k - where n (-1, +) represents the growth rate of the population of workers parameter in country i, y = (0,1) denotes the investment rate parameter in country i, si = (0,1) is the depreciation rate parameter in country i, y = /L denotes the output per worker in country i and k = K/L stands for the physical capital per capita in country i.