Refer to the following table when answering
Table 6.1: Growth Accounting
$$\begin{array} { l | c c c c c }
\hline \text { Growth (\%) } & 1948 - 2011 & 1948 - 1973 & 1973 - 1995 & 1995 - 2007 & 2007 - 2011 \
\hline K / L & 0.9 & 0.9 & 0.7 & 1.1 & 1.1 \
\text { Labor Comp } & 0.2 & 0.2 & 0.3 & 0.2 & 0.4 \
\text { TFP } & 1.4 & 2.2 & 0.5 & 1.5 & 0.4 \
\hline
\end{array}$$
-Consider the growth accounting data in Table 6.1. If the production function is given by $Y _ { t } = A _ { t } K _ { t } ^ { 1 / 3 } L _ { t } ^ { 2 / 3 }$ , the fastest growth rate of per capita GDP occurred during which period?

Question

Refer to the following table when answering  
Table 6.1: Growth Accounting
 $$\begin{array} { l | c c c c c } 
\hline \text { Growth (\%) } & 1948 - 2011 & 1948 - 1973 & 1973 - 1995 & 1995 - 2007 & 2007 - 2011 \
\hline K / L & 0.9 & 0.9 & 0.7 & 1.1 & 1.1 \
\text { Labor Comp } & 0.2 & 0.2 & 0.3 & 0.2 & 0.4 \
\text { TFP } & 1.4 & 2.2 & 0.5 & 1.5 & 0.4 \
\hline
\end{array}$$
-Consider the growth accounting data in Table 6.1. If the production function is given by $Y _ { t } = A _ { t } K _ { t } ^ { 1 / 3 } L _ { t } ^ { 2 / 3 }$ , the fastest growth rate of per capita GDP occurred during which period?

Quizplus · Accepted Answer

The fastest growth rate of per capita GDP occurred during 1948-1973, as indicated by the highest Total Factor Productivity (TFP) growth rate of 2.2% in that period.

Refer to the Following Table When Answering Table

Refer to the Following Table When Answering
Table