Suppose that Freedonia has GDP equal to 2000 million, the capital stock is 1700 million, and the number of employees equals 70 million. The production function is Y = AK^0.25N0.75. Total factor productivity of the economy is approximately equal to

Suppose that Freedonia has GDP equal to 2000 million, the capital stock is 1700 million, and the number of employees equals 70 million. The production function is Y = AK^0.25N0.75. Total factor productivity of the economy is approximately equal to

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