Question: Please help provide CORRECT answers. Cannot seem to figure these two problems out. THank you Refer to the following table when answering the next Jour
Please help provide CORRECT answers. Cannot seem to figure these two problems out. THank you
Refer to the following table when answering the next Jour questions. Table 6.1: Growth Accounting Consider the growth accounting data in Table 6.1. If the production function is given by Y_t = A_t K_t^1/3 L_t^2/3, the growth rate of per capita GDP for 1948-2011 is: a. 1.8 percent b.2.1 percent c. 3.3 percent d. 2.6 percent e. -1.7 percent Suppose the parameters of the Romer model take the following values: A_0 = 100, J l = 0.05, z = 1/100, and Z = 1/100. What is the growth rate of this country? a. 40 percent b. 50 percent c. 10 percent d. 0.02 percent e. 0.10 percent
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