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Real GDP: 6.31% Labour force: 3% Capital stock: 2.4% Suppose that the share of labor income in national income was 2/3, and that for capital
Real GDP: 6.31% Labour force: 3% Capital stock: 2.4% Suppose that the share of labor income in national income was 2/3, and that for capital income was 1/3. a. What is the contribution of labor force growth to the real GDP growth? (3 points) a. 1%. b. 2%. c. 3%. d. 4%. e. None of the answers is correct
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Microeconomics
Authors: Michael Parkin
11th edition
133019942, 978-0133020250, 133020258, 978-0133019940
