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The current population of the United States is 328.2 million with 2.2% of the population is engaged in R&D at an efficiency rate of 1/500

The current population of the United States is 328.2 million with 2.2% of the population is engaged in R&D at an efficiency rate of 1/500 per million persons per year.

  1. (a)If R&D is the only source of total-factor productivity growth what is the growth rate of labor efficiency in the United States?
  2. (b)If the growth rate of total factor productivity is 0.75% per year, what is the value ofin the Cobb-Douglas production function?

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