Corinth's labor supply grew by 1.4% and land stock grew by 1% from 425 BCE to 424 BCE. Landowners received 50% of income. If total factor productivity grew by 0.3% find the growth rate of aggregate output.

1.51%

Explanation:

Recall that:

Total Output  =

here;

A = total productivity factor

K = capital input

L = labor input

SInce  Landowners gets 50% of income; then a = 0.50

Output at 424BBC

Thus, the growth rate from 425 BCE to 424 BCE :

= 1.0151 - 1

= 0.0151

= 1.51%

lbc corporation makes and sells a product called product wz. each unit of product wz requires 4.1 hours of direct labor at the rate of $20.00 per direct labor-hour. management would like you to prepare a direct labor budget for june. the company plans to sell 28,000 units of product wz in june. the finished goods inventories o