Year GDP (billions of 1996 dollars) K(billions of 1996 dollars) N (millions) 1996 7813.2 23701.0 126.7 1997 8159.5 24383.6 129.6 1998 8508.9 25175.2 131.5 1999 8859.0 26033.2 133.5 2000 9191.4 26933.8 136.9 Question 7 Consider the following data (a) Calculate the Solow Residual for each year from 1996 to 2000. Assume that the aggregate production function takes the form of Y = zKO'36N0'54. (b) Calculate percentage rates of growth in output, capital, employment, and total factor pro- ductivity for the year 1996 to 2000. In each year, What contributes the most to aggregate output? What contributes the least? Are there any surprises here? If so, explain