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Output in an economy is given by the production function, Y= (UKK) 0.30 (UNN)a.70, where Y is output and A measures productivity. The capital stock Kis fixed at 31, and employment N is fixed at 88. The utilization rates of capital and labor equal 1 in both 2012 and 2013. Output equals 113 in 2012 and equals 119.78 in 2013. The values of the Solow residual as measured by the parameter A are found to be 1.7560 in 2012 and 1.8614 in 2013. Thus the growth rate of the Solow residual is 6.00%. Now suppose that betweeen 2012and 2013, utilization of labor increases by 2 %, while the utilization rate of capital remains unchanged. Output in 2013 is 119.78, as it was above. Calculate the new measure of A in 2013:. (Entor your response rounded to four decimal places.) Calculate the growth rate of A from 2012 to 2013:%. (Enter your response as a percentage rounded to two decimal places.) When the labor utilization rate increases, the growth rate of productivity V the growth rate of the measured Solow residual.

Output in an economy is given by the production function, Y= (UKK) 0.30 (UNN)a.70, where Y is output and A measures productivity. The capital stock Kis fixed at 31, and employment N is fixed at 88. The utilization rates of capital and labor equal 1 in both 2012 and 2013. Output equals 113 in 2012 and equals 119.78 in 2013. The values of the Solow residual as measured by the parameter A are found to be 1.7560 in 2012 and 1.8614 in 2013. Thus the growth rate of the Solow residual is 6.00%. Now suppose that betweeen 2012and 2013, utilization of labor increases by 2 %, while the utilization rate of capital remains unchanged. Output in 2013 is 119.78, as it was above. Calculate the new measure of A in 2013:. (Entor your response rounded to four decimal places.) Calculate the growth rate of A from 2012 to 2013:%. (Enter your response as a percentage rounded to two decimal places.) When the labor utilization rate increases, the growth rate of productivity V the growth rate of the measured Solow residual.

MATLAB: An Introduction with Applications
MATLAB: An Introduction with Applications
6th Edition
ISBN:9781119256830
Author:Amos Gilat
Publisher:Amos Gilat
Chapter1: Starting With Matlab
Section: Chapter Questions
Problem 1P
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Output in an economy is given by the production function, Y=A(UKK) 0.30 (UNN)0.70, where Y is output and A measures productivity. The capital stock K is fixed at 31, and employment N is fixed at 88. The utilization rates of capital and labor equal 1 in both 2012 and 2013. Output equals 113 in 2012 and equals 119.78 in 2013. The values of the Solow residual as measured by the parameter A are found to be 1.7560 in 2012 and 1.8614 in 2013. Thus the growth rate of the Solow residual is 6.00%. Now suppose that betweeen 2012and 2013, utilization of labor increases by 2%, while the utilization rate of capital remains unchanged. Output in 2013 is 119.78, as it was above. Calculate the new measure of A in 2013: (Enter your response rounded to four decimal places.) Calculate the growth rate of A from 2012 to 2013: %. (Enter your response as a percentage rounded to two decimal places.) When the labor utilization rate increases, the growth rate of productivity the growth rate of the measured Solow residual.
Transcribed Image Text:Output in an economy is given by the production function, Y=A(UKK) 0.30 (UNN)0.70, where Y is output and A measures productivity. The capital stock K is fixed at 31, and employment N is fixed at 88. The utilization rates of capital and labor equal 1 in both 2012 and 2013. Output equals 113 in 2012 and equals 119.78 in 2013. The values of the Solow residual as measured by the parameter A are found to be 1.7560 in 2012 and 1.8614 in 2013. Thus the growth rate of the Solow residual is 6.00%. Now suppose that betweeen 2012and 2013, utilization of labor increases by 2%, while the utilization rate of capital remains unchanged. Output in 2013 is 119.78, as it was above. Calculate the new measure of A in 2013: (Enter your response rounded to four decimal places.) Calculate the growth rate of A from 2012 to 2013: %. (Enter your response as a percentage rounded to two decimal places.) When the labor utilization rate increases, the growth rate of productivity the growth rate of the measured Solow residual.
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