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

question 67

Multiple Choice

Using the growth accounting equation, if the growth rate of technology is 3%, the growth of labor is 2% and the growth of capital is 1% then if α=0.75 then growth of output can be estimated to be:

• A) 4.25%.
• B) 4.00%.
• C) 6.00%.
• D) 4.75%.

---

Definitions:

Lives of People

Pertains to the experiences, events, and circumstances that constitute human existence and societal interactions.

Principles of Social Work

The foundational guidelines that govern the practice of social work, emphasizing respect for the dignity and worth of the individual, social justice, and professional integrity.

Social Conditions

The circumstances and factors affecting the way people live and interact in society, including socioeconomic status, education, and cultural norms.

Settlement House Movement

A social reform movement that began in the late 19th century, aimed at improving the lives of the poor through community-based services and education.