Use the following to answer questions :
Scenario: Productivity
The economy has grown by 4% per year over the past 30 years. During the same period the labor force has grown by 1% per year and the quantity of physical capital has grown by 5% per year. Each 1% increase in physical capital per worker is estimated to increase productivity by 0.4%. Assume that human capital has not changed during the past 30 years.
-(Scenario: Productivity) Look at the scenario Productivity. How fast has physical capital per worker grown?
A) 5%
B) 4%
C) 3%
D) 2%
Correct Answer:
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Q108: The aggregate production function measures productivity as:
A)
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Figure:
Q109: An increase in capital stock would:
A)shift the
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