Business, 12.03.2020 20:28, naenaekennedybe
Suppose labor's share of output is 70% and capital's share of output is 30%. The country finds that its output grew at a rate of 3.4% during the past year, its labor force grew by 2%, and its capital grew by 3%. In this case, labor contributed percent to the growth of output, capital contributed percent to the growth of output, and the implied rate of growth in technology was percent.
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Suppose labor's share of output is 70% and capital's share of output is 30%. The country finds that...
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