Suppose capital per hour of labor grows at 3.0 percent per year and technological change grows at
1) 0 percent per year. The growth rate of real GDP per hour of labor is percent per year.
A) 5.0
B) 3.0
C) 2.0
D) 4.0
Correct Answer:
Verified
Q219: Growth accounting is designed to measure the
Q220: Most is embodied in physical capital.
A) human
Q221: The one- third rule states that, holding
Q222: If capital per hour of labor grows
Q223: Suppose capital per hour of labor grows
Q225: Growth accounting explains changes in labor productivity
Q226: Growth accounting breaks the growth rate of
Q227: According to MIT economist Robert Solow, in
Q228: provides a way for economists to calculate
Q229: In Lotusland, real GDP per hour of
Unlock this Answer For Free Now!
View this answer and more for free by performing one of the following actions
Scan the QR code to install the App and get 2 free unlocks
Unlock quizzes for free by uploading documents