Refer to the Following Table When Answering
Table

question 57

Multiple Choice

Refer to the following table when answering
Table 6.1: Growth Accounting
$$\begin{array} { l | c c c c c } \hline \text { Growth (\%) } & 1948 - 2011 & 1948 - 1973 & 1973 - 1995 & 1995 - 2007 & 2007 - 2011 \\\hline K / L & 0.9 & 0.9 & 0.7 & 1.1 & 1.1 \\\text { Labor Comp } & 0.2 & 0.2 & 0.3 & 0.2 & 0.4 \\\text { TFP } & 1.4 & 2.2 & 0.5 & 1.5 & 0.4 \\\hline\end{array}$$
-Consider the growth accounting data in Table 6.1. If the production function is given by $Y _ { t } = A _ { t } K _ { t } ^ { 1 / 3 } L _ { t } ^ { 2 / 3 }$ , the growth rate of per capita GDP for 1948-2011 is:

• A) -1.7 percent
• B) 2.1 percent
• C) 3.3 percent
• D) 2.6 percent
• E) 1.8 percent

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