If the rate of total factor productivity growth is 3%, the growth rate of the capital stock is 4%, the growth rate of the labor force is 2%, and the share of capital is .5, then the growth rate of output per worker is 4%, while the growth rate of output is O 2%. the growth rate of output is 4%, while the growth rate of output per worker is O 2%. None of the above the growth rate of output is 6%, while the growth rate of output per worker is 4%. the growth rate of output per worker is 6%, while the growth rate of output is O 4%.
If the rate of total factor productivity growth is 3%, the growth rate of the capital stock is 4%, the growth rate of the labor force is 2%, and the share of capital is .5, then the growth rate of output per worker is 4%, while the growth rate of output is O 2%. the growth rate of output is 4%, while the growth rate of output per worker is O 2%. None of the above the growth rate of output is 6%, while the growth rate of output per worker is 4%. the growth rate of output per worker is 6%, while the growth rate of output is O 4%.
Chapter3: Scarcity, Trade-offs, And Production Possibilities
Section: Chapter Questions
Problem 11P
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Question
![If the rate of total factor productivity growth is 3%, the growth rate of the capital
stock is 4%, the growth rate of the labor force is 2%, and the share of capital is
.5, then
the growth rate of output per worker is 4%, while the growth rate of output is
O 2%.
the growth rate of output is 4%, while the growth rate of output per worker is
O 2%.
None of the above
the growth rate of output is 6%, while the growth rate of output per worker is
O 4%.
the growth rate of output per worker is 6%, while the growth rate of output is
4%.](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F7b8faeea-6842-461c-90d9-43f1f273f37d%2F46126e01-3073-411c-bad1-38aded315815%2Fzamc1wnw_processed.jpeg&w=3840&q=75)
Transcribed Image Text:If the rate of total factor productivity growth is 3%, the growth rate of the capital
stock is 4%, the growth rate of the labor force is 2%, and the share of capital is
.5, then
the growth rate of output per worker is 4%, while the growth rate of output is
O 2%.
the growth rate of output is 4%, while the growth rate of output per worker is
O 2%.
None of the above
the growth rate of output is 6%, while the growth rate of output per worker is
O 4%.
the growth rate of output per worker is 6%, while the growth rate of output is
4%.
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