Using the Growth Accounting Equation, If the Growth Rate of Technology

question 24

Multiple Choice

Using the growth accounting equation, if the growth rate of technology is 3 percent, the growth rate of labor is 2 percent, the growth rate of capital is 1 percent, and α = 0.25, then the growth rate of output can be estimated to be:

• A) 4.25 percent.
• B) 4 percent.
• C) 6 percent.
• D) 4.75 percent.

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