Suppose the growth rate of GDP in the United States is 4.2 percent. If 1.1 percent and 1.4 percent of GDP growth are due, respectively, to capital and labor growth, the amount resulting from technological progress is

Question

Quizplus · Accepted Answer

Since the total GDP growth rate is 4.2 percent, and 1.1 percent and 1.4 percent are due to capital and labor growth, respectively, the remaining growth rate attributable to technological progress is: 
4.2% - 1.1% - 1.4% = 1.7%
Therefore, the answer is D, or 1.7 percent.

Suppose the Growth Rate of GDP in the United States