For the years 2007-2011, if output per person in the private sector grew 1.9 percent, capital intensity grew 1.1 percent, and total factor productivity grew 0.2 percent, what was the growth rate of labor composition?

Question

Quizplus · Accepted Answer

The growth rate of labor composition can be found by subtracting the growth rates of capital intensity and total factor productivity from the growth rate of output per person: 1.9% - 1.1% - 0.2% = 0.6%. However, since the options provided do not include 0.6%, the closest option is 0.4%.

For the Years 2007-2011, If Output Per Person in the Private