Suppose the rate of economic growth in Mainland was 25 percent, Capital growth 30 percent, and labour growth 20 percent. If the elasticities output with respect to capital and labour are 0.3 and 0.7 respectively, how much is the labour contribution to economic growth?
A) 2 percent
B) 6 percent
C) 9 percent
D) 14 percent
Correct Answer:
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