Capital per person in India is about five percent and per capita income is about nine percent of the U.S. level. Given that per capita income y = Ak0.3, calculate the level of total factor productivity (A) , relative to the U.S. level, that would be needed for India to match the U.S. level of per capita income. (0.050.3 = 0.4)

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The Answer of Capital per person in India is about five percent and per capita income is about nine percent of the U.S. level. Given that per capita income y = Ak0.3, calculate the level of total factor productivity (A) , relative to the U.S. level, that would be needed for India to match the U.S. level of per capita income. (0.050.3 = 0.4)

Capital Per Person in India Is About Five Percent and Per