What is the annual growth rate of real gdp


Problem

Suppose labor's share of GDP is 70 percent and capital's is 30 percent, total factor productivity is growing at an annual rate of 2 percent, the labor force is growing at a rate of 1 percent, and the capital stock is growing at a rate of 3 percent. What is the annual growth rate of real GDP?

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Macroeconomics: What is the annual growth rate of real gdp
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