Question
The labor force grows at 7% and capital stock grows at 8%. Suppose .37% of national income goes to labor and (1-.37)% goes to capital.
The labor force grows at 7% and capital stock grows at 8%. Suppose .37% of national income goes to labor and (1-.37)% goes to capital. The growth rate of the output is 21%. What is the productivity factor?
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Macroeconomics
Authors: Olivier J. Blanchard
7th Global Edition
1292160500, 978-1292160504
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