Consider the following production function?
 Y = A×Ka×L1?a.
?
If a = 0.3, and over the past year total factor productivity grew 2.3 percent, capital grew 2 percent, and labor grew 3 percent, what was the growth rate of output?

A. 0 percent
B. 5 percent
C. 2 percent
D. 7 percent


Answer: B

Business

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Indicate whether the statement is true or false

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