Growth accounting a countryrsquos labor force grows 12, Ask an Expert

Economics

Growth accounting. A country’s labor force grows 1.2 percent and its capital stock grows 3 percent. Assume that labor share of output is 0.25 and capital share of output is 0.75. If the economy grows 4.55 percent, how much does total factor productivity grow?

a. 0.5 percent

b. 1 percent

c. 1.5 percent

d. 2 percent

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Business Economics, Economics

Category:- Business Economics
Reference No.:- M91960203

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