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Category > Economics Posted 05 Jun 2017 My Price 4.00

economy's production function

Suppose an economy's production function is y = A*k^(alpha)*L^(1-alpha). If the annual rate of economic growth is 3.5 percent and labour and capital are both growing by 2 percent annually, what contribution to growth is made by total factor productivity? You can assume that labour receives 75 percent of the total income generated in this economy.

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Status NEW Posted 05 Jun 2017 07:06 AM My Price 4.00

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