Explain the concept of Total Factor Productivity (TFP) and how is it calculated using data on capital, labour, and outpu

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answerhappygod
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Explain the concept of Total Factor Productivity (TFP) and how is it calculated using data on capital, labour, and outpu

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Explain the concept of Total Factor Productivity (TFP) and how
is it calculated using data on capital, labour, and output. (70%)
What does historical evidence tell us about the importance of TFP
growth for long run growth? (30%)
1000 word
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