Exhibit: Factors of Production Data Period Y K 1 1 3 4 5 100 106 111 110.5 110 200 -1.62 percent -1.64 percent 3.75 percent O 2.52 percent 205 210 215 220 L 100 102 104 104 104 Share of Labor in Output What is the growth in total factor productivity in period 3? 0.5 0.5 0.5 0.5 0.5

ENGR.ECONOMIC ANALYSIS
14th Edition
ISBN:9780190931919
Author:NEWNAN
Publisher:NEWNAN
Chapter1: Making Economics Decisions
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Exhibit: Factors of Production Data
Period
Y
K
1
1
3
4
5
100
106
111
110.5
110
200
-1.62 percent
-1.64 percent
O 3.75 percent
O 2.52 percent
205
210
215
220
L
100
102
104
104
104
Share of Labor in Output
What is the growth in total factor productivity in period 3?
0.5
0.5
0.5
0.5
0.5
Transcribed Image Text:Exhibit: Factors of Production Data Period Y K 1 1 3 4 5 100 106 111 110.5 110 200 -1.62 percent -1.64 percent O 3.75 percent O 2.52 percent 205 210 215 220 L 100 102 104 104 104 Share of Labor in Output What is the growth in total factor productivity in period 3? 0.5 0.5 0.5 0.5 0.5
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