Suppose in an Economy the Total Factor Productivity Grows by 5%.Annual

question 95

Multiple Choice

Suppose in an economy the total factor productivity grows by 5%.Annual growth in labor and capital stock equal 2.5% and 1.5% respectively.If the labor force receives 75% of the real GDP, calculate the annual growth in the real GDP of the economy.

• A)10 .5%
• B)7.25 %
• C)5.50 %
• D)4.76 %
• E)0.05 %

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Definitions:

COP Instruction

In PLC programming, a Copy instruction used to copy and move blocks of data from one location to another.

Source

The starting point or origin from which something comes, such as data in computing or materials in manufacturing.

Destinations

The endpoint or target location for data transfer within a programming context or data network.

Preset Time

A predetermined period set in a system or device before an action or process is initiated or completed.