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Business, 20.04.2020 22:29 AnimePo2020

Scenario: Technological Progress and Productivity Growth in Techland In Techland, from 1980 to 2010, holding technology and human capital fixed, increasing physical capital per worker from $25,000 to $100,000 would have led to a doubling of real GDP per worker, from $40,000 to $80,000. However, not only did physical capital per worker increase from $25,000 to $100,000, but technological progress shifted the productivity curve upward so that real GDP per worker actually increased from $40,000 to $320,000. Look at the scenario Technological Progress and Productivity Growth in Techland. What share of the growth rate of real GDP per capita was attributable to higher total factor productivity?

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Scenario: Technological Progress and Productivity Growth in Techland In Techland, from 1980 to 2010,...
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