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Suppose you have the following information about an economy: Average annual rates of growth from 2000 to 2010: Potential GDP 6.29% Labour Force 3.9% Capital

Suppose you have the following information about an economy:

Average annual rates of growth from 2000 to 2010:

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Potential GDP 6.29% Labour Force 3.9% Capital Stock 1.2% Share of labour income in national income: 2/3 Using growth accounting, nd the contributions to the annual growth in potential GDP that came from: Note: Make sure your answers are in percentage form and rounded to two decimal places. a) Growth in labour force? Contribution from growth in labour force = I % b) Growth in capital stock? Contribution from growth in capital stock = I % c) Improved productivity as measured by the Solow residual? Contribution from improved productivity = I %

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