What does the tfp value you have calculated mean

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Reference no: EM131485169

Question: Choose a country in which you are interested or one you are assigned. This problem will give you more practice in calculating TFP. Go to https://www.worldbank.org, click on "Data" at the top of the page and then choose "Data by Country" and then choose "AAGs." Find your country in the drop-down menu.

a Calculate the TFP for your country for most recent year using: percentage change in GDP per capita (next to last line in the yellow section), percentage change in gross capital formation (this is for the K variable; it's the next to last line on the first page and it is a percentage, too) and the percentage change in labor force (it won't be for just one year; rather it is shown as an average); this is your L variable (you'll find it near the top of page 1 of the data). Use 28 percent as the weight for the contribution of the physical capital input to production.

b How much of economic growth has been intensive and how much extensive?

c What does the TFP value you have calculated mean?

Reference no: EM131485169

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