The production function-what was the growth rate of output

Assignment Help Business Economics

Reference no: EM13896036

The production function is Y = A ´ Ka ´ L1-a. If a = 0.3, and over the past year total factor productivity (TFP) grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?

Reference no: EM13896036

Questions Cloud

What is probability of getting a diamond, a queen, or a king : What is the probability of getting- Four or more on a single toss of a fair die and Ace or king on a single pick from a well-shu?ed standard deck of cards?

The labor-force participation rate : Suppose a country has a population of 61 million, of which 37 million are in the working-age population. Of those, 11 million are not in the labor force and 23 million are employed. The labor-force participation rate is

When is vertical product differentiation present in industry : What makes firms locate close to each other in the product space? When is vertical product differentiation present in an industry? Discuss demand and cost characteristics.

How does the theory of psychological egoism fit within : How does the theory of psychological egoism fit within your personal body of ethics and values?

The production function-what was the growth rate of output : The production function is Y = A ´ Ka ´ L1-a. If a = 0.3, and over the past year total factor productivity (TFP) grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?

What was the decision of the supreme court explain : What were the issues presented to the Supreme Court to decide? What was the decision of the Supreme Court? Explain in detail the reasons for the Court's decision. Was the Supreme Court decision based in part on their interpretation of a statue? If s..

Number of unemployed people decreased : In 2004, the number of unemployed people decreased from 8.8 million to 8.1 million, while the labor force increased from 146.5 million to 147.4 million. By how much did the unemployment rate decrease?

Number of people in the working-age population increased : In 2001, the number of people in the working-age population increased from 212.6 million to 215.1 million, while the labor force increased from 141.5 million to 142.3 million. By how much did the labor-force participation rate change?

When greed and selfishness in businesses go too far : when greed and selfishness in businesses go too far and become a hazard to society

User Account

All Pages