The empirical fit of the production model The table below reports per capita GDP and capital per person in the year 2014 for some countries. Your task is to fill in the missing columns of the table. A) (2 points) Given the values in columns 1 and 2, fill in columns 3 and 4. That is, compute per capita GDP and capital per person relative to the U.S. values. B) (3 points) In column 5, use the production model (with a capital exponent of 1/3) to compute predicted per capita GDP for each country relative to the United States, assuming there are no TFP differences. C) (3 points) In column 6, compute the implied level of TFP. D) (2 points) Why do you think the implied level for TFP is lower/bigger than one? In 2014 dollars (1) (2) ( Capital per Per capita ( person The empirical fit of the production model The table below reports per capita GDP and capital per person in the year 2014 for some countries. Your task is to fill in the missing columns of the table. A) (2 points) Given the values in columns 1 and 2, fill in columns 3 and 4. That is, compute per capita GDP and capital per person relative to the U.S. values. B) (3 points) In column 5, use the production model (with a capital exponent of 1/3) to compute predicted per capita GDP for each country relative to the United States, assuming there are no TFP differences. C) (3 points) In column 6, compute the implied level of TFP. D) (2 points) Why do you think the implied level for TFP is lower/bigger than one? In 2014 dollars (1) (2) ( Capital per Per capita ( person