Solved: What is the contribution of productivity growth, Macroeconomics

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What is the contribution of productivity growth

Problem

Suppose that the economy of India can be represented by the following production function:

Y = AK^1/3L^2/3During 2009 India's technological growth (Solow residual) was 4%. The growth rates of the capital and labor input stocks were 3% in both cases.

a) Calculate India's output growth for 2009.
b) What is the contribution of productivity growth to total output growth (in percentage terms)?

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.

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