Suppose that the production function is y a k14l34what is
Suppose that the production function is Y = A K1/4L3/4.
a. What is the marginal product of labor (MPL)?
b. What is the marginal product of capital (MPK)?
c. Graph the approximate shapes of the MPL and MPK curves.
Now Priced at $15 (50% Discount)
Recommended (95%)
Rated (4.7/5)
Suppose that the production function for the economy is: Assume that real GDP is $12,000 billion, the capital stock is $40,000 billion, and the labor supply is 200 billion hours.
Real GDP per hour worked in the United States grew by 2.17% per year from 1949 to 2009, and capital per hour worked grew at the rate of 2.27% per year during the same years.
Suppose that it is known that labor receives 25% of national income. With a Cobb-Douglas production function and an initial level of real GDP of $10,000, what happens to real GDP if both capital and labor double?
Draw a graph of the aggregate production function with capital, K, on the horizontal axis. Why does it have the shape that you have drawn?
Suppose that the production function is Y = A K1/4L3/4.What is the marginal product of labor (MPL)?
Suppose that the production function were . Assume that A = 100,000, and that the current level of the capital stock is 10,000.
In 2010, the money supply, M1, was $1,832 billion.Nominal GDP was $14,660 billion. What was the velocity of money measured using M1?
What will happen to the inflation rate if the rate of growth of the money supply increases to 7%, and, at the same time, the growth rate of velocity increases to 2%?
State the quantity equation.What is the velocity of money?What is the difference between
1959287
Questions Asked
3,689
Active Tutors
1461044
Questions Answered
Start Excelling in your courses, Ask a tutor for help and get answers for your problems !!
Problem: A well-balanced diet combined with vitamin and mineral supplements seems to
You're examining rates of deaths involving pneumonia over the past 5 years in BC by looking at the underlying cause of death recorded in the BC Vital Statistics
Problem: Community A and community B both have crude mortality rates for lung cancer of 4 per 1000 population per year.
Question: Which best describes intellectual and developmental disabilities? O Intellectual developmental disabilities O Chronic disease
Problem: Which of the following statements is false regarding hypertension?
Medical advances in the care of premature infants now allow babies who are born extremely premature (as early as 24 weeks gestation) to survive.
Problem: Describe and show how you can engage in Scholarship by answering the following questions below: