Business, 19.03.2021 03:50 abby61005

Consider a country in which capital per hour of work from 1950 to 1973 grew by 3 percent per year and output per hour of work grew by about 3 percent per year. Suppose that from 1973 to 1991, capital per hour of work did not grow at all and output per hour of work grew by about 1 percent per year. How much of the slowdown in productivity (output per hour of work) growth was due to technological change

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Consider a country in which capital per hour of work from 1950 to 1973 grew by 3 percent per year an...

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