Problem
What is the growth rate for an economy in which TFP is constant, labor grows at a rate of 1 percent per year, capital grows at a rate of 2 percent per year, and labor's share of output equals 60 percent while capital's share equals 40 percent?
The response should include a reference list. Double-space, using Times New Roman 12 pnt font, one-inch margins, and APA style of writing and citations.