10. Growth accounting: Consider the following (made-up) statistics for some economics. Assume the exponent on capital is 1/3 and that the labor composition is unchanged. For each economy, compute the growth rate of TFP. (a) A European economy: gy/t = 0.03, 9K/L = 0.03. (b) A Latin American economy: gy/L=0.02, 9K/L= 0.01. (c) An Asian economy: gy/L = 0.06, 9K/L = 0.15.

10. Growth accounting: Consider the following (made-up) statistics for some economics. Assume the exponent on capital is 1/3 and that the labor composition is unchanged. For each economy, compute the growth rate of TFP. (a) A European economy: gy/t = 0.03, 9K/L = 0.03. (b) A Latin American economy: gy/L=0.02, 9K/L= 0.01. (c) An Asian economy: gy/L = 0.06, 9K/L = 0.15.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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