Business
Business, 12.03.2020 01:04, hit89

GDP has grown in a country at 4% per year for the last 30 years. The labor force has grown at 1% per year and the quantity of physical capital has grown at 5% per year. A 1% increase in average physical capital per worker (other things equal) raises productivity by 0.5%. How much has growing physical capital per worker contributed to productivity growth in this country?

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GDP has grown in a country at 4% per year for the last 30 years. The labor force has grown at 1% per...

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