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Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
Edition 12ISBN: 978-1259070969Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
Edition 12ISBN: 978-1259070969 Exercise 14
Suppose output is growing at 3 percent per year and capital's and labor's shares of income are.3 and.7, respectively.
a. If both labor and capital grow at 1 percent per year, what would the growth rate of total factor productivity have to be
b. What if both the labor and the capital stocks are fixed
a. If both labor and capital grow at 1 percent per year, what would the growth rate of total factor productivity have to be
b. What if both the labor and the capital stocks are fixed
Explanation
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A production function gives a numerical ...
Macroeconomics 12th Edition by Rudiger Dornbusch ,Stanley Fischer,Richard Startz
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