Assume a Production Function with Constant Returns to Scale

question 27

Multiple Choice

Assume a production function with constant returns to scale.The share of capital in production is 1/4 and the share of labor is 3/4.If both labor and capital grow at 1.6% and the rate of technological progress is 1.2%, what is the rate of growth of real output?

• A)1)2%
• B)1)6%
• C)2)8%
• D)3)2%
• E)4)8%

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