Multiple Choice
If total output grows at 4 percent per year while labor and capital grow at 1.5 percent and 2.1 percent pre year, respectively, then:
A) technology grew by 3.6 percent per year.
B) technology declined by 0.4 percent per year.
C) technology grew by 0.4 percent per year.
D) there was no technological progress.
Correct Answer:
Verified
Correct Answer:
Verified
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