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16 July, 16:35

Suppose the growth rate of GDP in the United States is 4.2 percent. If 2.9 percent and 1.3 percent of GDP growth are? due, respectively, to capital and labor? growth, the amount resulting from technological progress is

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  1. 16 July, 18:51
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    zero percent

    Step-by-step explanation:

    Given data in the problem:

    The growth rate of GDP in the United States = 4.2 percent

    The growth of GDP due to the capital = 2.9 percent

    The growth of GDP due to the labor = 1.3 percent

    now, the contribution of the capital and labor in the growth of GDP = 2.9 percent + 1.3 percent = 4.2 percent

    Now, the contribution from labor and the capital sums up the total growth rate of the GDP of the united States.

    Hence, the growth rate from the technical progress is zero percent
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