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Using the data provided in the table below perform a development accounting exercise for India for the years 1980 and 2019. Country Year GDP Capital
Using the data provided in the table below perform a development accounting exercise for India for the years 1980 and 2019. Country Year GDP Capital Employment Education Population India 1980 916.00 934.58 264.71 1.28 698.95 India 2019 9,170.56 35,423.26 497.62 2.17 1,366.42 US 1980 7309.36 7288.67 103.07 3.35 229.48 US 2019 20,595.84 69,059.06 158.30 3.75 329.06 Where, aggregate output, GDP (Y), is expressed in millions of 2017 PPP-adjusted US dollars; capital (K) is expressed in millions of 2017 PPP-adjusted US dollars; population (N) and employment (L) are in millions of people; and human capital (H) is proxied by the human capital index of the Penn World Table. Assume that the parameter (alpha) in the production function is 0.33
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