question archive Suppose technology remains constant while labour force grew at a rate of 3

Suppose technology remains constant while labour force grew at a rate of 3

Subject:EconomicsPrice:2.86 Bought3

Suppose technology remains constant while labour force grew at a rate of 3.4 percent a year, capital stock grew at 2.1 percent per year, and the share of labour income in national income was 60 percent, how fast would potential GDP grow? Note: Keep as much precision as possible during your calculations. Your ?nal answer should be in percentage form and accurate to at least two decimal places,

Rate of potential GDP growth = 0%

Option 1

Low Cost Option
Download this past answer in few clicks

2.86 USD

PURCHASE SOLUTION

Option 2

Custom new solution created by our subject matter experts

GET A QUOTE

rated 5 stars

Purchased 3 times

Completion Status 100%