Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of

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Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of

Over the past year, productivity grew 2%, capital grew 1%, and labor grew 1%. If the elasticities of output with respect to capital and labor are 0.2 and 0.8, respectively, how much did output grow?
A) 1%
B) 2%
C) 3%
D) 4%

Textbook

Macroeconomics

Edition: 8^th

Authors: Abel, Bernanke, Croushore

Read 190 times

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johnpaul92 Author

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8 years ago

This answers my question, thank you so much

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supaman

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8 years ago

Take care for now

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