The rate of growth in the productivity of capital is 1, Ask an Expert

Economics

The rate of growth in the productivity of capital is 1 percent, the rate of growth of capital is 2 percent, the rate of growth of labor is 1 percent, and the rate of growth in the productivity of labor is 3 percent. From this we know that

A. the rate of economic growth is 7%

B. per capita real GDP will double in 50 years

C. per capita real GDP will increase by 3% per annul

D. the rate of economic growth will fail to 4 percent

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Microeconomics, Economics

Category:- Microeconomics
Reference No.:- M91234486

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