Its labor force has increased from 500 to 575. all, Ask an Expert

Economics

Over the past 20 years an economy's total output has grown from 1000 to 1300,its capital stock has risen from 2500 to 3250 and its labor force has increased from 500 to 575.All measurements are in real terms. find out the contributions to economic growth in capital, labor and productivity.

a)assuming that aK=0.3 and aN=0.7
b)assuming that aK=0.5 and aN=0.5

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M966686

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