True or False and Explain your answer. The following table shows average annual growth rates of output per worker and factors of production (per worker) for the United States for various time periods. Assuming a value of α = 1/3, the data show that productivity growth was highest between 1995 and 2000. 1948-2010 1948-73 1973-95 1995-2000 2000-2010 Output 2.6 3.3 1.5 2.9 2.7 Physical capital 1.0 1.0 0.7 1.2 1.2 Human capital 0.2 0.2 0.2 0.2 0.3

True or False and Explain your answer. The following table shows average annual growth rates of output per worker and factors of production (per worker) for the United States for various time periods. Assuming a value of α = 1/3, the data show that productivity growth was highest between 1995 and 2000. 1948-2010 1948-73 1973-95 1995-2000 2000-2010 Output 2.6 3.3 1.5 2.9 2.7 Physical capital 1.0 1.0 0.7 1.2 1.2 Human capital 0.2 0.2 0.2 0.2 0.3

Economics:

10th Edition

ISBN:9781285859460

Author:BOYES, William

Publisher:BOYES, William

Chapter16: Economic Growth

Section: Chapter Questions

Problem 13E

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