Suppose that real GDP is summarized by y- AK(HN)1-a, where A is TFP, K is capital, H is average years of education (or human capital) and N,is number of workers. If a is equal to 0.48 and the years of education increases from 12 to 16, how much does the GDP per worker increase in percent terms (approximately)? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
Suppose that real GDP is summarized by y- AK(HN)1-a, where A is TFP, K is capital, H is average years of education (or human capital) and N,is number of workers. If a is equal to 0.48 and the years of education increases from 12 to 16, how much does the GDP per worker increase in percent terms (approximately)? (Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
Chapter5: National Income Accounting
Section: Chapter Questions
Problem 14E
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![QUESTION 20
Suppose that real GDP is summarized by y- AK"(HN)1-a, where A is TFP, K is capital, H is average years of education (or human capital) and N.is number of
workers. If a is equal to 0.48 and the years of education increases from 12 to 16, how much does the GDP per worker increase in percent terms (approximately)?
(Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)](/v2/_next/image?url=https%3A%2F%2Fcontent.bartleby.com%2Fqna-images%2Fquestion%2F1bb2659d-859c-4998-aa40-0c739e4d3a5e%2F244c24aa-bb4e-4875-add7-8a0a18f14834%2Fkjakh0n_processed.jpeg&w=3840&q=75)
Transcribed Image Text:QUESTION 20
Suppose that real GDP is summarized by y- AK"(HN)1-a, where A is TFP, K is capital, H is average years of education (or human capital) and N.is number of
workers. If a is equal to 0.48 and the years of education increases from 12 to 16, how much does the GDP per worker increase in percent terms (approximately)?
(Submit your answer with up to two decimals, i.e., -10.22 for -10.22% and 11.44 for 11.442%.)
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