Elasticity of gdp per worker with respect to capital per, Ask an Expert

Economics

Elasticity of GDP per worker with respect to capital per worker = 0.25
Capital per worker grows at a rate of 4% per year.
Technology advances at a rate of 5% per year.
The number of workers increases at a rate of 2% per year
Average labor productivity in 2015 = 1,000 units

Between 2014 and 2015 the real GDP will increase at a rate of ______ percent.

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Macroeconomics, Economics

Category:- Macroeconomics
Reference No.:- M91260498

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