Question: 2 Use the data in the exhibit to complete the two tasks below. Exhibit: Factors of Production Data Period Y K L Share of Labor
Use the data in the exhibit to complete the two tasks below. Exhibit: Factors of Production Data Period Y K L Share of Labor in Output a Compute and report the value of growth in total factor productivity AtAtAt in each period from periods through Assume that the value of A is in period Report the value of A in each period. b Does the value of A rise in each period? If it declines, do you think this decline is because technological progress works backward? If so explain your answer. If not, provide another explanation.
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