The economy of Macro Island is described by the following data: Labor's share of income...
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The economy of Macro Island is described by the following data: • Labor's share of income is one-third. • Output grows by 8 percent per year. • The capital stock grows by 9 percent per year. • The labor force grows by 3 percent per year. Given these data, Micro Island's total factor productivity grows by. 04 02 3 1 percent per year. The economy of Macro Island is described by the following data: • Labor's share of income is one-third. • Output grows by 8 percent per year. • The capital stock grows by 9 percent per year. • The labor force grows by 3 percent per year. Given these data, Micro Island's total factor productivity grows by. 04 02 3 1 percent per year.
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College Accounting A Practical Approach
ISBN: 978-0132564441
11th Canadian Edition
Authors: Jeffrey Slater, Brian Zwicker
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