In the year 2007, total factor productivity was about ________ times ________ important than capital per person when determining differences in per capita GDP using the production model.

Question

Quizplus · Accepted Answer

Total factor productivity was about 3 times more important than capital per person when determining differences in per capita GDP using the production model in 2007. This means that increases in total factor productivity had a greater impact on per capita GDP than increases in capital per person.

In the Year 2007, Total Factor Productivity Was About ________