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Category > Economics Posted 05 Jun 2017 My Price 4.00

Average annual growth rate of capital

1.    Suppose that aggregate production (Y) in Patusan has grown at an annual average of 10% over the last 40 years, while production in Costaguana has grown by 4.7% over the same period. Suppose that the share of total income going to capital (wK) in each country is 0.4 and the share of total income going to labor (wL) in each is 0.6. The average annual growth rate of capital and labor in each country is given in the chart below:

 

 

 

Average annual growth rate of capital (gK) for Patusan 6% and Costaguana 3%

Average annual growth rate of labor (gL) for Patusan is 3% and for Costaguana is 2%

 

Use the “Growth Accounting” technique to calculate the follow:

Contribution of capital wKgK Contribution of labor wLgL Contribution of TFP gA

considering that gy for Patusan 10%

gy for Costaguana 4,7%

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SuperTutor
(15)
Status NEW Posted 05 Jun 2017 07:06 AM My Price 4.00

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