Suppose owners of capital get 50 percent of national income, while workers receive 50 percent. In Period 1, the capital stock was 5, the labor input was 4, and the output was 16. In Period 2, the capital stock was 9, the labor input was 6, and the output was 21. Between the two periods, how much did total factor productivity and output per capita

Suppose owners of capital get 50 percent of national income, while workers receive 50 percent. In Period 1, the capital stock was 5, the labor input was 4, and the output was 16. In Period 2, the capital stock was 9, the labor input was 6, and the output was 21. Between the two periods, how much did total factor productivity and output per capita

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 5E

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