Multiple Choice
Production Function
Real GDP = T (L,K) ,such that Real GDP = T(L + K)
Assume that the technology coefficient is equal to 0.40.
-Refer to Exhibit 17-1.If there are 20 units of capital and 16 units of labor,________ units of output (Real GDP) will be produced.
A) 36
B) 5.6
C) 4
D) 14.4
Correct Answer:
Verified
Correct Answer:
Verified
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