The growth accounting equation suggests that the growth rate of output is equal to the growth rate of ________
A) total factor productivity plus the contributions of both capital and labor
B) total factor productivity minus the rate of depreciation
C) capital and labor
D) the overall population
A
Economics
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John wants to buy a new lawn mower. He can either buy it in the US and pay $500 or buy it in Mexico and pay 6188 Mexican Pesos. At the exchange rate of 1 Mexican Peso=0.771US$, ignoring any other costs, he would
a. Prefer buying in the US b. Prefer buying in Mexico c. Be indifferent about where he buys his television d. None of the above
Economics
Explain the real-nominal principle.
What will be an ideal response?
Economics