Over the last 50 years in the us real gdp has grown at


Over the last 50 years in the U.S., real GDP has grown at approximately 3% per year, while capital has been accumulating at around 3% per year and the labor force has grown at around 1% per year. The labor share of income is about 0.7. What has been the growth rate of the Solow residual?

Solution Preview :

Prepared by a verified Expert
Business Economics: Over the last 50 years in the us real gdp has grown at
Reference No:- TGS02197189

Now Priced at $10 (50% Discount)

Recommended (97%)

Rated (4.9/5)