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 5E
To determine

Suppose labor share GDP is 70% and the capital's is 30%, total factor productivity is growing at an annual rate of 2%, the labor force is growing at a rate of 1% and the capital stock is growing at a rate of 4%

Calculate the annual growth rate of real GDP.

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