Calculate the annual rate of tfp for the malawi economy

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Reference no: EM131485173

Question: In Malawi, total gross domestic product has increased at an average annual rate of 2.6 percent over the last decade. The annual growth of the labor force has averaged 2.2 percent and the increase in the physical stock of capital has increased an average of 4.5 percent per year. Labor's contribution to total output has averaged 30 percent over the period. Given these figures, calculate the annual rate of total factor productivity (TFP) for the Malawi economy.

Reference no: EM131485173

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