In Techland, from 1980 to 2010, Holding Technology and Human

question 187

Multiple Choice

In Techland, from 1980 to 2010, holding technology and human capital fixed, increasing physical capital per worker from $25,000 to $100,000 would have led to a doubling of real GDP per worker, from $40,000 to $80,000. However, not only did physical capital per worker increase from $25,000 to $100,000, but technological progress shifted the productivity curve upward so that real GDP per worker actually increased from $40,000 to $320,000. What share of the annual growth rate of real GDP per capita was attributable to higher total factor productivity?

• A) 2.0%
• B) 5%
• C) 8.75%
• D) 6.5%

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