Consider an aggregate production function of the form Y= K⅓(AL)⅔ Assume that the labor force is a constant fraction of the population. capital per worker grows at 3% population grows at 1% and labor productivity grows at 6% then GDP per capita grows at_____%

Consider an aggregate production function of the form Y= K⅓(AL)⅔ Assume that the labor force is a constant fraction of the population. capital per worker grows at 3% population grows at 1% and labor productivity grows at 6% then GDP per capita grows at_____%

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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Consider an aggregate production function of the form Y= K⅓(AL)⅔
Assume that the labor force is a constant fraction of the population. capital per worker grows at 3% population grows at 1% and labor productivity grows at 6% then GDP per capita grows at_____%

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The larussi Legal Aide office assisted 110 people in June, 2020, with a staff labor cost of $3,880. In June, 2021 the office provided assistance to 142 people with a labor cost of $4,450. What was their productivity growth over this one-year period? Do not round intermediate calculations. Round your answer to two decimal placea. Use a minus sign to enter a negative value, if any. %
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Performance of Key Sectors Exports of manufactured goods surpassed RM1 tril mark for the first time Manufactured Goods Manufactured Goods RM848.84 bil RM1.067 tril 个25.6% 123.4% 86.1%* 86.0% EXPORTS IMPORTS RM1.240 tril RM987.24 bil 5.6% 7.9% 5.4% 6.2% Others . Agriculture Goods RM4.71 bil RM98.10 Others Ágriculture Goods RM60.97 bil 个12.3% 136.8% RM24.40 bil Mining Goods RM69.79 bil 158.7% 125.0% 119.5% Mining Goods RM53.04 bil Note: * share 19.0% 1. ANALYSE THE PERFORMANCE OF THE KEYS SECTORS ABOVE
Performance of Key Sectors Exports of manufactured goods surpassed RM1 tril mark for the first time Manufactured Goods Manufactured Goods RM848.84 bil RM1.067 tril 125.6% 123.4% 86.1%* 86.0% EXPORTS IMPORTS RM1.240 tril RM987.24 bil 5.6% 7.9% 5.4% 6.2% Others . • Agriculture Goods RM98.10 bil Others RM4.71 bil Ågriculture Goods RM60.97 bil 个12.3% 136.8% RM24.40 bil Mining Goods RM69.79 bil 158.7% 125.0% Mining Goods 个19.5% RM53.04 bil Note: * share 19.0% 1. ANALYSE THE PERFORMANCE OF THE KEYS SECTORS ABOVE
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