Suppose labor productivity increased by 4% last year. If technological progress was 3%, by how" much must have the capital-to-labor ratio increased? A) 3%. B) 2%. C) 1%. D) 0%.
Suppose labor productivity increased by 4% last year. If technological progress was 3%, by how" much must have the capital-to-labor ratio increased? A) 3%. B) 2%. C) 1%. D) 0%.
Essentials of Economics (MindTap Course List)
8th Edition
ISBN:9781337091992
Author:N. Gregory Mankiw
Publisher:N. Gregory Mankiw
Chapter17: Production And Growth
Section17.1: Economic Growth Around The World
Problem 1QQ
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