The table below represents Freedonia's macroeconomic data for 2002 and 2003.
$$\begin{array} { c c c c }
\text { Year } & \text { Y } & \mathrm { K } & \mathrm { N } \
\hline 2002 & 2000 & 1700 & 70 \
2003 & 2100 & 1785 & 75 \
\hline
\end{array}$$
Suppose that the production function is given by Y = AK?.²? ??.??.Between 2002 and 2003,total factor productivity of Freedonia's economy increased by
A)-1.5%.
B)5.0%.
C)5.5%.
D)12.7%.

Question

The table below represents Freedonia's macroeconomic data for 2002 and 2003.
$$\begin{array} { c c c c } 
\text { Year } & \text { Y } & \mathrm { K } & \mathrm { N } \
\hline 2002 & 2000 & 1700 & 70 \
2003 & 2100 & 1785 & 75 \
\hline
\end{array}$$
Suppose that the production function is given by Y = AK?.²? ??.??.Between 2002 and 2003,total factor productivity of Freedonia's economy increased by
A)-1.5%.
B)5.0%.
C)5.5%.
D)12.7%.

Quizplus · Accepted Answer

The Answer of The table below represents Freedonia's macroeconomic data for 2002 and 2003.
$$\begin{array} { c c c c } 
\text { Year } & \text { Y } & \mathrm { K } & \mathrm { N } \
\hline 2002 & 2000 & 1700 & 70 \
2003 & 2100 & 1785 & 75 \
\hline
\end{array}$$
Suppose that the production function is given by Y = AK?.²? ??.??.Between 2002 and 2003,total factor productivity of Freedonia's economy increased by
A)-1.5%.
B)5.0%.
C)5.5%.
D)12.7%.

The Table Below Represents Freedonia's Macroeconomic Data for 2002 and 2003