In the Relationship Expressed in Functional Form, Y = G(K

question 13

Multiple Choice

In the relationship expressed in functional form, Y = G(K, L) , Y stands for real GDP, K stands for the amount of capital in the economy, and L stands for the amount of labor in the economy. In this case G( ) :

• A) is the growth rate of real GDP when the amount of capital and labor in the economy is fixed.
• B) indicates that the variables inside the parentheses are endogenous variables in the model.
• C) is the symbol that stands for government input into the production process.
• D) is the function telling how the variables in the parentheses determine real GDP.

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