In the Cobb-Douglas Production Function $Y = K ^ { a } L ^ { 1 - a }$

Multiple Choice

In the Cobb-Douglas production function $Y = K ^ { a } L ^ { 1 - a }$ , if a = 1/3, then:

A) labor's share of GDP is two-thirds
B) labor's share of GDP is one-third
C) capital's share of GDP is two-thirds
D) capital's share of income is one
E) labor's share of income is three