Multiple Choice
If the growth rate of capital per hour of work is 3 percent over a given period of time and the growth rate of technology is 2 percent, then, based on Solow's growth accounting formula, the growth rate of real GDP per hour of work will be
A) 3.67 percent.
B) 2.33 percent.
C) 1.33 percent.
D) 1 percent.
E) 3 percent.
Correct Answer:
Verified
Correct Answer:
Verified
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