In the period of 1930-1949 the average GDP growth in Turkish economy was 4.9% and the population growth 1.8% which be considered as the average growth rate of the labour. What did remain for the additional contribution of (Log A + alpha x Log K) assuming alpha =0.3? Guess the Log A and Log K and justify your guesses taking into consideration the main specifies of the Turkish economy in 1930’s.
In the period of 1930-1949 the average GDP growth in Turkish economy was 4.9% and the population growth 1.8% which be considered as the average growth rate of the labour. What did remain for the additional contribution of (Log A + alpha x Log K) assuming alpha =0.3? Guess the Log A and Log K and justify your guesses taking into consideration the main specifies of the Turkish economy in 1930’s.
Chapter1: Making Economics Decisions
Section: Chapter Questions
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In the period of 1930-1949 the average GDP growth in Turkish economy was 4.9% and the population growth 1.8% which be considered as the average growth rate of the labour.
What did remain for the additional contribution of (Log A + alpha x Log K) assuming alpha =0.3?
Guess the Log A and Log K and justify your guesses taking into consideration the main specifies of the Turkish economy in 1930’s.
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