The average annual growth rate of gdp per capita

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Reference no: EM131253324

We have following data on Portugal. year 1960 2010 GDP (billions 2005 US$) 23.109 218.569 Population (millions) 8.107 10.676 Labor (millions) 3.393 4.909 Capital (billions 2005 US $) 55.221 888.273 The average annual growth rate of GDP is . The average annual growth rate of GDP per capita is . Suppose that the production function is Y = zK0.4L 0.6 . The Solow residual in 2010 is . % of GDP growth in Portugal can be explained by increases in TFP.

Reference no: EM131253324

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