Question: 1. Replicating the exercises in Chapter 7. Use the data provided in the accompanying spreadsheet for 1990 and 2015 . The spreadshoet provides data for

1. Replicating the exercises in Chapter 7. Use the data provided in the accompanying spreadsheet for 1990 and 2015 . The spreadshoet provides data for the following variables (a) Y: Real GDP at constant 2017 national prices (in mil. 2017USS) (rgdpna). (b) L : Employment : Number of persons engaged (in millions) (emp). (c) K : Capital stock at constant national prices (mna). (d) h : Index of human capital per person (hc). (a) Development Accounting: Assuming that =1/3 and Ising our standard per worker production function y=Ak1/3h2/3 i. Calculate the factors of production per worker of each country (k1/3h2/3) relative to the US for 2015 only. ii. Calculate the TFP (A) of each country relative to the US TFP for 2015 only. iii. Create a scatter-plot of A(yaxis)vBk1/3h2/3 and discuss what you find. (b) Growth Accounting: i. Calculate the compound annual growth rate of y,A, and x(= k1/3h2/3 ) for each country

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