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-Dominant- [34]
1 year ago
11

Suppose labor's share of output is 60% and capital's share of output is 40%. If labor grows at a rate of 5%, then this will caus

e output to grow at a rate of ANSWER HERE%. If capital grows at a rate of 5%, then this will cause output to grow at a rate of ANSWER HERE%.
Instructions: Enter whole numbers into each box.
Business
1 answer:
12345 [234]1 year ago
8 0

If capital grows at a rate of 5%, then this will cause output to grow at a rate of 1%.

Given,

Labor's share of output = 60%

Capital's share of output = 40%

Labor grows on a rate of = 5%

Capital grows on a rate of = 5%

Thus, output will grow at a rate of = ?

SR(t) = Δy/Δt/Y - (αΔk/Δt/k(t) + (1-α)(ΔL/Δt/L(t))

Here, α = 60%

So, labor's share = (1 - 0.6) × 5  = 2%

Capitals contribution = 0.4 × 5  = 2%

Implied rate of growth in technology is also given,

SR = (5) - (2+2)

= 1%

Hence, if capital grows at a rate of 5%, then this will cause output to grow at a rate of 1%.

To learn more about capital here:

brainly.com/question/24212838

#SPJ1

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When accounting for the general fund, the encumbrances control account is credited when: purchase order is filled or canceled.

<h3>What do you mean by general fund?</h3>

A general fund is defined as the fund which is known as the primary operating fund of a governmental unit. Most of the usual activities are supported by general fund.

On the other hand, the encumbrance control account is defined as settlement under which the some amount of money keep aside to meet the anticipated expenses.

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