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I don't need answers, I just need to double check the process for what it is asking me to do. I am including a picture

I don't need answers, I just need to double check the process for what it is asking me to do. I am including a picture of the assignment for clarity.

For column 3, capital per person, I divide the countries column 1 by United States column 1 right?

For column 4, per capita GDP, I divide the countries column 2 by United States column 2 right?

For column 5, the production function is Y=A(k^1/3)(L^2/3) but I don't know how to proceed.

for example canada column 3 would be 0.907 and canada column 4 would be 0.835

Thank you for your time!

image text in transcribed
Extra credit assignment 1 Due Feb 14 (Fri) 10 am Question 2 (4 points) The table below reports per capita GDP and capital per person in the year 2014 for 10 countries. In 2011 dollars Relative to the U.S. values (U.S.=1) (1) (2) (3) (4) (5) Capital Per capita Capital Per capita Implied TFP Country per person GDP per person GDP to matched data United States 141,841 51,958 1.000 1.000 1.000 Canada 128,667 43,376 France 162,207 37,360 Hong Kong 159,247 45,095 South Korea 120,472 34,961 Indonesia 41,044 9,797 Argentina 53,821 20,074 Mexico 45,039 15,521 Kenya 4,686 2,971 Ethiopia 3,227 1,505 1) Given the values in columns 1 and 2, fill in columns 3 and 4. That is, compute per capita GDP and capital per person relative to the U.S. values. 2) In column 5, use the production model from Question 1 to compute the level of TFP for each country that is needed to match up the model and the data

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