Question: true, false, or uncertain , and explain why . The value of alpha in the Cobb-Douglas production function was 0.6. The average annual growth rate

true, false, or uncertain, and explain why.

The value of alpha in the Cobb-Douglas production function was 0.6.

The average annual growth rate of capital productivity (Y/K) was zero.

The average annual growth rate of labor was 2 percent.

The national saving rate was 0.22.

The rate of depreciation of the capital stock was 0.11.

The annual nominal GDP had increased from an initial $4,000 billion to a final $4,840 during the decade.

Product price inflation averaged a little less than one percent per year.

Statement to evaluate:During this decade, TFP increased for this country.

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