The table below represents Freedonia's macroeconomic data for Year 1 and Year 2. Suppose that the production function is given by Y = AK0.25N0.75. Between Year 1 and Year 2, total factor productivity of Freedonia's economy increased by
A) -1.5%.
B) 5.0%.
C) 5.5%.
D) 12.7%.
A
Economics
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