Suppose the rate of economic growth in Mainland was 25 percent, Capital growth 30 percent, and labour growth 20 percent. If labour contribution to economic growth is 14 percent, how much is the elasticity of output with respect to labour?
A) 0.3
B) 0.7
C) 0.5
D) 0.8
Correct Answer:
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A)total
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A)capital.
B)labour.
C)technology.
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A)measures empirically the relative importance
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