NO.PZ202208160100000301
问题如下：
Using the specified growth accounting equation, which is the most appropriate conclusion Birol can make from his data on trends in the economy?选项：
A.Daltonia’s economy is performing at a steady state rate of growth. B.Output per worker is falling. C.GDP growth is primarily driven by labor.解释：
Solution
C is correct. The components of growth can be determined using Solow’s growth accounting equation: ΔY/Y = ΔA/A + αΔK/K + (1 − α)ΔL/Lwhere:
ΔY/Y = GDP percentage growth
ΔA/A = percentage growth from total factor productivity (TFP)
ΔK/K = percentage growth in capital
ΔL/L = percentage growth in labor
α = share of income paid to capital factor
1 – α = share of income paid to labor factor, also the elasticity of output with respect to labor
TFP = Labor productivity growth – Growth in capital deepening = 1.7 – 2.3 = –0.6, which is given in Exhibit 1. Also given, 1 – α = 0.65 and α = 0.35
Growth due to labor of 2.21% is greater than the growth due to capital or TFP.
A is incorrect. Once the economy reaches steady state growth, capital deepening cannot be a source of sustained growth in the economy.
B is incorrect. Output per worker is rising since GDP growth of 3.75% is greater than population growth of 3.4%.
为什么TFP = Labor productivity growth – Growth in capital deepening
