Question

Calculate the implied growth rate of technology in each scenario in the table below. Assume labor's share of output to 60% and capital's share of output is 40%. Implied Growth Rate of Technology Scenario Growth Rate of Output (%) Growth Rate of Labor (%) Growth Rate of Capital (%) A 3.0 2 2 0.0 B 4.2 3 3 0.0 C 3.0 1 5 0.0 D 4.2 1 4 0.0 Instructions: Enter numbers rounded to one decimal place in each box.

          Calculate the implied growth rate of technology in each scenario in the table below. Assume labor's share of output to 60% and capital's share of output is 40%.

Implied Growth Rate of
Technology
Scenario
Growth Rate of
Output (%)
Growth Rate of
Labor (%)
Growth Rate of
Capital (%)
A
3.0
2
2
0.0
B
4.2
3
3
0.0
C
3.0
1
5
0.0
D
4.2
1
4
0.0
Instructions: Enter numbers rounded to one decimal place in each box.

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Calculate the implied growth rate of technology in each scenario in the table below. Assume labor's share of output to 60% and capital's share of output is 40%.

Implied Growth Rate of
Technology
Scenario
Growth Rate of
Output (%)
Growth Rate of
Labor (%)
Growth Rate of
Capital (%)
A
3.0
2
2
0.0
B
4.2
3
3
0.0
C
3.0
1
5
0.0
D
4.2
1
4
0.0
Instructions: Enter numbers rounded to one decimal place in each box.

Added by Kevin A.

Principles of Economics

Gregory Mankiw 8th Edition

Instant Answer

Solved by Expert Ahmet Yavas

09/08/2022

Step 1

In Scenario A: Growth Rate of Labor = 2% Growth Rate of Capital = 2% In Scenario B: Growth Rate of Labor = 3% Growth Rate of Capital = 3% In Scenario C: Growth Rate of Labor = 1% Growth Rate of Capital = 5% In Scenario D: Growth Rate of Labor = 1% Growth Rate Show more…

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Texts: Can someone tell me what I did wrong? Should the answer be a percentage, then round to a decimal? What's the answer? Calculate the implied growth rate of technology in each scenario in the table below. Assume labor's share of output is 60% and capital's share of output is 40%. Scenario A B C D Growth Rate Output 3.0 4.2 3.0 4.2 Growth Rate Labor 2 3 1 1 Growth Rate of Capital 2 3 5 4 Implied Growth Rate of Technology 0.0 Instructions: Enter numbers rounded to one decimal place in each box.

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Transcript

00:01 This is the question we have here.

00:02 There's a table.

00:03 There's an outcome a and outcome b, and there are two groups, group one, group two.

00:09 So in the first part of the question, what proportion of all cases? be careful.

00:15 There is given in all cases here.

00:17 Had the outcome of a here.

00:20 So when we look at the outcome of a, which is totally, that is 70 here.

00:27 Since we are looking for the proportion in all cases.

00:32 So the total number of case here, which is 200.

00:35 So the proportion here, which is 30 plus 40 and divided by 200, that would be 70, which is 35 over 100, which is equal to 0 .35.

00:49 This is the answer for part a.

00:52 And what proportion of all cases? so in this case, we need all cases again.

00:57 So let me just write the proportion here.

01:02 Since it was saying that it is in all cases, so we have to just take care of all the outcomes here.

01:10 And we have to look at the group one here.

01:13 So when we look at the group one, we have 30 plus 70.

01:18 So this is 30 plus 70, which is this is 50 over 100.

01:24 If i just simplify, so we will just write 0 .5.

01:27 That is the answer for part b.

01:30 Let's take a look at the part c.

01:32 What proportion of cases in group 1? so be careful...

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