Suppose that growth in output that can be attributed to growth in labor and capital is 2%. If output grows at a rate of 5%, it must be the case thatGroup of answer choicesgrowth in labor exceeds growth in capital.growth in capital exceeds growth in labor.the economy is experiencing technological progress.the economy is not spending enough on acquiring human capital.

Suppose a country’s population grows by 1% per annum, and its labour efficiency grows by 2% per annum. Then, according to the Solow model with technological progress, the steady-state growth rate of capital per effective worker is ______.

Consider an economy with the production function  with . In a year in the capital stock grew at rate 5.6%, the population grew at 1.6%, and productivity grew at 5.5%, what is the growth rate of . (Note: provide answer as a percent growth rate)

In an closed economy with production function , the national saving rate is 15%, capital depreciation is 5%, population growth rate is 3%, assume labor growth rate is equal to population growth rate, and technology growth rate equal to 2%. What is the growth rate of output per real labor at Steady State level?

In a developing country, the growth rate of capital per hour of work is 6%, and the growth rate of technology is 3%. Using the growth accounting formula, what is the country's productivity growth rate?The country's productivity growth rate is %.

Labor productivity growth is the growth rate of output per person in the economy.Group of answer choicesTrueFalse