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Calculate the implied growth rate of technology in each scenario in the table below. Assume labour’s...

Calculate the implied growth rate of technology in each scenario in the table below. Assume labour’s share of output is 70% and capital’s share of output is 30%.

Scenario Growth Rate of Output (%) Growth Rate of Labour (%) Growth Rate of Capital (%) Implied Growth Rate of Technology
A 3.0 2 2
B 4.2 3 3
C 3.0 1 5
D 4.2 1 4

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