EBK MINDTAP ECONOMICS FOR BOYES/MELVIN'
EBK MINDTAP ECONOMICS FOR BOYES/MELVIN'
10th Edition
ISBN: 9781305387614
Author: MELVIN
Publisher: VST
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Chapter 16, Problem 4E
To determine

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, real GDP is growing at a rate of 4 percent a year, the labor force is growing 2 percent and capital stock os growing at 3 percent. Calculate the growth rate of total factor productivity.

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