Suppose output per worker in the US is four times (4.0) output per worker in China. Suppose capital per worker in the US is twice that of China. You should assume that the share of capital in income is 40 percent for both countries. Total factor productivity (A) for the U.S is. A)Four times higher (4.0) than China B)U.S TFP is below China. C)US TFP is twice (2.0) as high. D)U.S TFP is equal to China. E)U.S TFP is 3.2 times higher than China.

Suppose output per worker in the US is four times (4.0) output per worker in China. Suppose capital per worker in the US is twice that of China. You should assume that the share of capital in income is 40 percent for both countries. Total factor productivity (A) for the U.S is. A)Four times higher (4.0) than China B)U.S TFP is below China. C)US TFP is twice (2.0) as high. D)U.S TFP is equal to China. E)U.S TFP is 3.2 times higher than China.

ENGR.ECONOMIC ANALYSIS

14th Edition

ISBN:9780190931919

Author:NEWNAN

Publisher:NEWNAN

Chapter1: Making Economics Decisions

Section: Chapter Questions

Problem 1QTC

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