What is the labor contribution to economic growth
Problem
Consider the neoclassical growth model. Over the past year, output grew 5%, capital grew 4%, and labor grew 6%. If capital contribution to economic growth is 1.6%, what is the labor contribution to economic growth?
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Consider the neoclassical growth model. Over the past year output grew 5%, capital grew 4% and labor grew 6%. What is the labor contribution to economic growth?
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