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Asked by meelad101
Use growth accounting to estimate known and unknown growth. The...
Use growth accounting to estimate known and unknown growth. The labor force grows at 9% and capital stock grows 3%. Suppose 25% of national income goes to labor and 75% goes to capital. Output grows by 7%.
What percent of the growth rate of output can be explained by unknown growth?
Solved by verified expert
Answered by zafariak
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