In 2019 a country has 7.48% growth in real gdp, and uses two factors of production: capital (K) and labor (L). In the table below you see the growth rates of the factors of production. Assume that the share of capital in the production is 40% and the share of labor in production is 60%. Capital (K) Labor (L) A country 4.67% 1.89% How much does growth in capital contribute to GDP growth? Write your answer as a percentage, round at two (2) decimals and do not writ the percentage sign.

In 2019 a country has 7.48% growth in real gdp, and uses two factors of production: capital (K) and labor (L). In the table below you see the growth rates of the factors of production. Assume that the share of capital in the production is 40% and the share of labor in production is 60%. Capital (K) Labor (L) A country 4.67% 1.89% How much does growth in capital contribute to GDP growth? Write your answer as a percentage, round at two (2) decimals and do not writ the percentage sign.

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 2.4P

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