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suppose that the observed level of Total factor productivity (TFP) of a country P is 20% of a country R, technology level of country R
suppose that the observed level of Total factor productivity (TFP) of a country P is 20% of a country R, technology level of country R grows at 10% each year, and the technology level of country P lags that of country R by 2 years. then the ratio of the efficiency level of country P to that of country R is larger than 20%. evaluate whether is true, false or uncertain and why?
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