The current population of the United States is 327.2 million with 2.2% of the population is engaged in R&D at an efficiency rate of 1/375 per million persons per year. If R&D is the only source of total-factor productivity growth what is the growth rate of total factor productivity in the United States?

The current population of the United States is 327.2 million with 2.2% of the population is engaged in R&D at an efficiency rate of 1/375 per million persons per year. If R&D is the only source of total-factor productivity growth what is the growth rate of total factor productivity in the United States?

ECON MACRO

5th Edition

ISBN:9781337000529

Author:William A. McEachern

Publisher:William A. McEachern

Chapter8: Productivity And Growth

Section: Chapter Questions

Problem 2.4P

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