From One Year to the Next,a Country's Output Rose from 4000

question 54

Essay

From one year to the next,a country's output rose from 4000 to 4500,its capital stock rose from 10,000 to 12,000,and its labor force declined from 2000 to 1750.Suppose a_K = 0.3 and a_N= 0.7.
(a)How much did capital contribute to economic growth over the year?
(b)How much did labor contribute to economic growth over the year?
(c)How much did productivity contribute to economic growth over the year?

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Definitions:

Reproduce

The biological process by which new organisms are generated from parent organisms.

Reproductive Potential

The possible reproductive capacity or output of an organism or population, often considering factors like age and health.

Gender Differences

Variations in characteristics, behaviors, physical and psychological attributes between males and females.

Casual Sex

Sexual activity between individuals without the expectation of a formal relationship or emotional commitment.