Question
Suppose the economy of India can be represented by the following production function: = 1/3 2/3 . Assume that during 2014, India's technological growth (Solow
Suppose the economy of India can be represented by the following production function: =1/32/3.
Assume that during 2014, India's technological growth (Solow residual) is 4%, and the growth rates of both the capital and labor input stocks are 3%.
- Calculate India's output growth for 2014.
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Economics Principles and Policy
Authors: William J. Baumol, Alan S. Blinder
12th edition
978-0538453677, 538453672, 978-0538453622, 538453621, 978-0538453653
