0.5 0.5Given a production function: Y = AK N If output grows at 5%, capital grows at 2% and the number ofworkers grows at 4%, then technology (or total factor productivity) grows at % ? (Answer in integer only,no decimal place.) Your Answer: AnswerGiven a production function: Y = AK0.5 N0.5. If output grows at 5%,capital grows at 2% and the number of workers grows at 4%, then technology (ortotal factor productivity) grows at %?(Answer in integer only, no decimal place.)Your Answer:Answer

Production function: Y = AK0.5N0.5where Y is output; A is technology (or total factor productivity),…

0.5 0.5 Given a production function: Y = AK N If output grows at 5%, capital grows at 2% and the number of . workers grows at 4%, then technology (or total factor productivity) grows at % ? (Answer in integer only, no decimal place.) Your Answer: Answer

0.5 0.5 Given a production function: Y = AK N If output grows at 5%, capital grows at 2% and the number of . workers grows at 4%, then technology (or total factor productivity) grows at % ? (Answer in integer only, no decimal place.) Your Answer: Answer

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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0.5 0.5
Given a production function: Y = AK N If output grows at 5%, capital grows at 2% and the number of
workers grows at 4%, then technology (or total factor productivity) grows at % ? (Answer in integer only,
no decimal place.) Your Answer: Answer
Given a production function: Y = AK0.5 N0.5. If output grows at 5%,
capital grows at 2% and the number of workers grows at 4%, then technology (or
total factor productivity) grows at %?
(Answer in integer only, no decimal place.)
Your Answer:
Answer

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