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Use this table for Question 4: Average annual growth rates of... United States, 18501880 United States, 18801900 Givens (1) Y 3 4 (2) L 2.4
Use this table for Question 4: Average annual growth rates of... United States, 18501880 United States, 18801900 Givens (1) Y 3 4 (2) L 2.4 1.6 (3) K 2 2.5 (4) Land/resources 2 1 Derived (5) A Assume a= 0.25, =0.5, and y=0.25 in both periods 4. In this example, TFP growth (growth of A) is (higher/lower) in the earlier period than the later period. Growth of output per worker is (higher/lower) in the first period than the second. (a) Higher; Higher (b) Higher; Lower (c) Lower; Lower ((21) Lower; Higher
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