Consider the Following Production Function $Y = A \times K ^ { a } \times L ^ { l - a }$

question 53

Multiple Choice

Consider the following production function? $Y = A \times K ^ { a } \times L ^ { l - a }$ If a = 0.4, over the past year output grew 4 percent, total factor productivity grew 2 percent, and capital grew 3 percent, labor grew by

• A)1.33 percent
• B)2.5 percent
• C)3.2 percent
• D)3.88 percent

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