Given the following information, and assuming the Cobb-Douglas weights are (1/3) on capital and (2/3) on labor, calculate the growth Rate in RGDP: (B= billion, M = million)
1980 Y = 11,216B, K = 36,999B, N=136.9M
1985 Y = 12,623B, K = 42,609B, N = 141.7
What is the average annual growth rate of RGDP over this period? Write your answer as a percentage and round to the nearest one-tenth.