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Asked by harshini1313
1) 4th. Question 4: Production Function Model and TFP ....... . ......
Image transcription text Question 4: Production Function Model and TFP .......
. ... 15 points
Suppose, USA and Argentina are both characterized by the following production function
Y = AK1/3 [2/3
(3)
Consider USA and Argentina with the following data for 2015 (in US$),
Country
GDP ($mill.)
Capital ($mill)
Labor Force ($ mill.)
USA
19000000
65000000
150
Argentina
1000000
3200000
20
(i) (5 points) Using the production function model, calculate the predicted GDP per worker of Ar-
gentina relative to the US.
(ii) (5 points) Using the numbers above calculate the predicted TFP of Argentina relative to the United
States.
(iii) (5 points) Using all the information you have, calculate the relative return to capital for Argentina.
1) 4th
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Answered by AfrinishShah581
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