Question

2. The following data give real GDP (Y), capital (K), and labor (L), for the Wakandan economy in various years. Year TFP Growth in % (please round (please round to to the nearest the nearest whole whole number) number 1960 970 1980 1990 2000 12,560 15,402137 2010 14,784 18,513 139 3,109 3,883 66 4,722 5,863 79 6,450 8,43399 8,955 11,460119 Assume that the production function for Wakanda is Y- AK03. Please fill out the empty cells in the table above. Calculate the level of technology (A) as a residual, and then using that calculate the TFP growth rates. The growth rate referencing the year 1970

Answer 1

A3101 3 60. A 13-8a ruond 51) A16-4 '구 (r Tuu

ear 194o Tear 2.00 03 ( 4o133 n- 22, 23

ear 2 402 13 2 1414 9513 3q 2s 4 4 11 148o 161 11 201o The reuth rate re 14

Note: Factor A represent TFP.