Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Chapter 16, Problem 4E

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Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Answer 2

Question

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Answer 3

Question

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Answer 4

Question

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Answer 5

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

Answer 6

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

Answer 7

Chapter 16, Problem 4E

To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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Ch. 16 - Prob. 1E Ch. 16 - Prob. 2E Ch. 16 - Prob. 3E Ch. 16 - Prob. 4E Ch. 16 - Prob. 5E Ch. 16 - Prob. 6E Ch. 16 - Prob. 7E Ch. 16 - Prob. 8E Ch. 16 - Prob. 9E Ch. 16 - Prob. 10E

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

Solution Summary: The author calculates the growth rate of total factor productivity, which measures economic efficiency and accounts for parts of the differences in cross country per capita income.

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

Chapter 16 Solutions