High School

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The amount of human capital per worker grows by 6% a year in a country. Estimates of the aggregate production function for the country show that holding physical capital per worker and technology constant, for each 1% increase in human capital per worker, output per worker increases by 0.5%.

The growth in human capital per worker in the country accounts for approximately _____% of productivity growth per year.

Please choose the correct answer from the following choices:

A. 0.5
B. 3
C. 6
D. 30

Answer :

Answer:

The growth in human capital per worker in the country accounts for approximately 3% of productivity growth per year.

Explanation:

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Rewritten by : Barada

Answer:

3%

Explanation:

If each 1% of increase in human capital per worker results in a 0.5% increase in productivity, a 6% increase in human capital per worker would result in a = 6% x 0.5 = 3% increase in productivity growth per year.

Human capital includes all the skills and knowledge that workers may gain through education, training and experience.