Rate of growth in the productivity of labor

Reference no: EM13685021

The rate of growth in the productivity of capital is one percent the rate of growth of capital is two percent the rate of growth of labor is one percent and the rate of growth in the productivity of labor is three percent. From this we know that per capita real GDP

1) Per capita real GDP will increase by three percent per annum

2) Per capita real GDP will double in 50 years

3) The rate of economic growth will fall to four percent

4) The rate of economic growth is seven percent

Reference no: EM13685021

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