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Determining the growth rate of total factor productivity

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Reference no: EM132786557

-Suppose that output is growing at 3 percent per year and the elasticities of output with respect to capital and labour are 0.3 and 0.7, respectively.

-If both capital and labour grow at 1 percent per year, what would the growth rate of total factor productivity have to be?

-What if both the labour and the capital stocks are fixed?

Reference no: EM132786557

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