Multiple Choice
Suppose that an economy grows by 6 percent, total factor productivity grows by 4 percent, and the capital stock increases by 2 percent.If labor and capital are the only inputs used in production and capital contributes 25 percent to GDP, then the labor force has risen by _____.
A) 1.5 %
B) 2%
C) 4%
D) 6%
E) 8%
Correct Answer:
Verified
Correct Answer:
Verified
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