Compute the growth rate of tfp, Macroeconomics

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Compute the growth rate of tfp

Problem

Growth accounting: Consider the following (made-up) statistics for some economies. Assume the exponent on capital is 1/3 and that the labor composition is unchanged. For each economy, compute the growth rate of TFP.

(a) A European economy: g_Y/L = 0.03, g_K/L = 0.03.

(b) A Latin American economy: g_Y/L = 0.02, g_K/L = 0.01.

(c) An Asian economy: g_Y/L = 0.06, g_K/L = 0.15.

The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.

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Macroeconomics: Compute the growth rate of tfp

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