Growth in total factor productivity equals the _____. percentage change in per capita real GDP sum...

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Growth in total factor productivity equals the _____. percentage change in per capita real GDP sum...

Growth in total factor productivity equals the _____. percentage change in per capita real GDP sum of resource growth and economic growth ratio of total input to total output ratio of total output to total input percentage change in output minus the percentage change in resources

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Answer 1

Answer #1

Solution: percentage change in output minus the percentage change in resources

Explanation: Total factor productivity is computed as growth rate of output minus contributions to both capital and labor. Thus equals the percentage change in output minus the percentage change in resources

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Answer 2

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